Financial Focus: Spring 2024

In this issue…

As the advent of spring brings not only longer days but also a new tax year, there is still much to get to grips with in the fallout from the Spring Budget. Although most of the measures that appeared were thoroughly teased, there were still a few surprises to affect your new tax year planning. While national insurance cuts were well leaked, some surprises remained. 

Reforms to the high income child benefit charge were largely welcomed, although the increased threshold from £50,000 to £60,000 was balanced out with an increase to the size of the band to which it applies. 

We explore this and other key takeaways from the Budget in the feature for this spring edition of our newsletter. We also look at the probable lowering of interest rates in 2024, the renewed appeal of ISAs following cuts to dividend and CGT allowances, the tax traps around pension withdrawals and the increased costs of living in retirement.