Spring Budget 2016

Throughout the Budget announcement, George Osborne’s overall statement of importance was everything is “for the future” but  “What about the present?”big-ben

The Chancellor stated that he wanted to “close tax loop holes” with social media calling for the true chance of this happening. Never the less, the Chancellor attacked several tax issues.

  • Capital Gain Tax rates are to fall for basic rate Tax payers.
  • ISA limits to be increased.
  • Increase high rate threshold.
  • Tax free personal allowance to rise.
  • New “Lifetime ISA”.

To help define how this Budget will affect you, please see our Budget Summaries and Tax Tables below.

 

budget-summary
tax-tables

Any queries regarding this years Budget announcement, don’t hesitate to call us.

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