Budget 2016: Lifetime Isa announced to stop younger people choosing between buying a house and saving for retirement March 16, 2016 Chancellor George Osborne has today announced a new lifetime Isa in his Budget speech to help under 40s who feel they have to make a choice between saving for a retirement or saving for a property. Similar to the help-to-buy Isa, government will boost the savers' pot, with the rate offered on the lifetime Isa being £1 [...]
Budget 2016: Advice allowance for pension to be raised after recommendations from the Financial Advice Market Review March 16, 2016 Changes to the pensions advice allowance mean that people will now be able to dip into their pension pots to pay for pre-retirement financial advice. Building on the recommendations from the Financial Advice Market Review (FAMR) earlier this week, the government will open a consultation this summer on whether to allow people to withdraw £500 tax [...]
Budget 2016: From savers to landlords and commuters, here are the winners and losers from George Osborne’s “sugar tax” Budget – and how it will affect you March 16, 2016 Today's big speech has already become known as the "sugar tax" Budget, after George Osborne announced a surprise levy on fizzy drinks. But sugar addicts weren't the only losers from today's Budget: landlords were also hit, after the chancellor decided not to apply a fall in capital gains tax to them – while children are faced [...]
Budget 2016: Labour brands the chancellor’s Budget a failure, claiming it is “built on sand” March 16, 2016 The leader of the Labour opposition Jeremy Corbyn has criticised the chancellor George Osborne's 2016 Budget, labelling it as “the culmination of six years of failures.” He described the economic recovery since the 2008 financial crisis as "built on sand, on a budget of failure". Corbyn said: He’s failed on the budget deficit, failed on debt, failed on investment, [...]
Budget 2016: What were chancellor George Osborne’s favourite words used in his speech? March 16, 2016 Chancellor George Osborne has unveiled a range of new measures in his Budget – but he took 9,223 words to do it. He used the speech to draw attention to the benefits of the European Union, unveil measures to clamp down on tax avoidance, while introducing a new lifetime Isa and raising the personal threshold. [...]
Budget 2016: Here are the reactions to Osborne’s announcements on sugar tax, corporation tax, Insurance Premium Tax, Isas, education and growth prospects March 16, 2016 George Osborne has just announced some Budget surprises – a sugar tax, longer school days – as well as an increase in sin taxes on tobacco, alterations to ISAs and savings, and corporation taxes. Here's what analysts are already saying about the chancellor's latest agenda on… Personal allowance David Kilshaw, private clients services partner, EY [...]
Budget 2016: Fuel duty frozen by chancellor George Osborne for the sixth year in a row to save the average driver £75 per year March 16, 2016 The chancellor has said that fuel duty will be frozen for the sixth year in a row, as part of the 2016 Budget. George Osborne claims the move will save the average driver £75 a year. Osborne said: "We had pencilled in an inflation rise, but fuel duty will be frozen for the sixth year in a row. It's the [...]
Budget 2016: George Osborne gives pub industry reason for cheer but smokers are out in the cold with minimum pricing on tobacco products March 16, 2016 George Osborne has confirmed the government will freeze duty on beer and cider, and whisky – but said a minimum price will be introduced for cigarettes. The chancellor was unequivocal about his support for the pub and spirits industries, saying: "Today I back our pubs again. I am freezing beer duty and cider duty too. "We [...]
Budget 2016: Ouch. George Osborne cuts capital gains tax – but landlords and buy-to-let investors lose out March 16, 2016 George Osborne has cut capital gains tax during his Budget speech in parliament – but landlords will lose out. The chancellor said the higher rate of the tax, which applies to capital gains on most assets, will fall to 20 per cent, from 28 per cent now, while the basic rate falling to 10 per cent, from [...]
Budget 2016: Osborne announces cut to business rates, removing 630,000 small businesses from paying any rates at all from next year March 16, 2016 The chancellor George Osborne has announced that 630,000 small business will pay no business rates at all from next year, as he cuts business rates across the board. Osborne claims the reduction will save £7bn per year for businesses. There will be a new threshold for small business rates, more than doubling entry level of tax on [...]