Budget News

2016 Budget News – Key Points

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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

Posted in Budget News, News