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Tuesday September 26th, 2017 

News Archive - December 2012

Pre-Budget Statement 2012

5/12/2012

No major shocks in the Pre-Budget Statement. There was a small increase to the ISA allowance and tiny future increases to the Inheritance Tax and Capital Gains Tax allowances. There is also a future decrease to the annual contribution limit on pensions to £40,000 per annum, making them less attractive for very high earners who pay in nmore than that amount each year but having no effect on everybody else. There was talk of more radical changes to ISA and pension savings limits but these did not materialise.

The personal income tax allowance for the next tax year was increased slightly more than predicted to £9,440 per annum, which benefits the less well-off with taxable income.

The focus of the Budget was more on boosting business to try to restart growth in the UK economy.

I personally think that extracting the UK from the mess caused by the financial crisis will continue to be a long drawn out process but as time goes on, we are getting there.

Contact Mulberry Financial to discuss how to avoid a personal financial crisis.

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