We are monitoring the key points of The Chancellors Budget as they are revieled.
- Significant relief for Small Business Rates -Annual threshold for small business tax relief to be raised from £6,000 to £15,000, exempting thousands of firms
- Annual Isa limit to rise from £15,000 to £20,000
- New “lifetime” ISA for the under-40s, with government putting in £1 for every £4 saved
- Tax-free personal allowance to rise to £11,500 in April 2017
- Headline rate of corporation tax – currently 20% – to fall to 17% by 2020
- The Money Advice Service, which has provided financial advice to consumers since 2010, is to be abolished.
More to follow as we review details of the Budget