Andrew Miedzinski, Magus Financial Planning Director, outlines the key changes from the spring budget.

Jeremy Hunt most likely learnt valuable lessons from his predecessor on how to remain in the job for a bit longer. Clearly, he has taken a more “conservative” approach (forgive my irony) and if there was anyone anticipating his budget to bring a high level of excitement, I have checked…all the lights are still intact.

Some of the status quo has remained, and there have been both winners and losers. Let us look at some the key points for individuals:

Income tax

Individual Savings Account (ISA)

Capital Gains Tax

Pensions

Lifetime Allowance

Inheritance tax

Despite the arctic winds blowing from many of the frozen items, there are opportunities for interesting planning, using some of the new allowances to keep reducing your taxes. If you’d like to speak to one of our Planners about making the most of the new allowances, get in touch.

 

Risk warnings 

This article is distributed for educational purposes and should not be considered investment advice or an offer of any security for sale. This article contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular security, strategy, or investment product.  Information contained herein has been obtained from sources believed to be reliable but is not guaranteed.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated.

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