In this issue…
The new Chancellor has been laying the groundwork for her forthcoming Budget since before the election and following her report of a £22 billion hole in the nation’s finances, some painful measures are likely at the end of October.
Taxpayers are already feeling the brunt of continued threshold freezes, with over a million people now paying higher and additional rates. The government’s plan for the economy will be announced against the backdrop of the first reduction in the Bank rate for four years, which means dropping fixed interest security rates and cash deposit returns. While investors may need to move smartly to lock in current rates, those keen to pursue sustainable investments can now expect greater transparency due to the new marketing rules in place since May.
Meanwhile new students will be the first to start repaying their loans at a lower income threshold and for longer.
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