budget2015

We have summarised the key points from last week's Budget including the main changes that were announced in the Autumn Statement which come into effect from 6th April 2015.

Whilst the effects of the 2014 Budget are still very current it's hard to believe twelve months have passed!

The 2015 Budget as predicted by many was quiet in comparison, however, the main announcements for the financial services industry were:

  • Reduction in pensions lifetime allowance from 6th April 2016 (£1 million) and future increases of the allowance in line with CPI
  • Consultation on the sale of annuities in payment
  • Additional ISA flexibility and the introduction of the Help to Buy ISA
  • Consultation on the avoidance of IHT through deeds of variation

Key Points courtesy of threesixty Services LLP .