Keeping you in the loop

This is the place to keep up to date with what’s happening in the world of financial planning. It’s full of interesting and inspirational articles, news about our team and stories of how we’re making a difference for our clients.

Grab a cup of tea, sit back and enjoy.

October’s Budget

This was an interesting one, in the fact that it was a bit of a non-event. We were all waiting for the big changes that were predicted and actually it all fell a bit flat. The main changes to mention are:

  • From April 2019, you can earn up to £12,500 before you pay any income tax and you will start paying the higher rate tax once you earn £50,000 and over. These were changes we already knew about but have been brought forward from April 2020.
  • Premium bonds minimum investment has dropped to £25 and can be gifted to a child from anyone, not just a parent or grandparent.
  • The annual ISA allowance is staying at £20,000 for 2019/20 tax year but the Junior ISA allowance is increasing to £4,368 for 2019/20.
  • The Lifetime Allowance will rise to £1,055,000 from April 2019.

Although we don’t consider these changes to be particularly dramatic, we always take them into consideration in our planning.