Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

MONEYFACTS on Budget 2015 - Help to Buy ISA, £1000 Savings Allowance, Pensions Freedom...

Personal_Finance / UK Tax & Budget Mar 18, 2015 - 08:31 PM GMT

By: MoneyFacts

Personal_Finance

Sylvia Waycot, Editor at Moneyfacts.co.uk, comments:

“This is a great budget for savers. After years of being left out of the cold they can finally enjoy the warmth of being under the Chancellor’s new roof.”


Help-to-buy ISA

Sylvia Waycot, Editor at Moneyfacts.co.uk, comments:

“Many young people have almost given up on the hope of owning their own home because the deposits are so high. This will be excellent news for this demographic, who will once again have the opportunity of getting on the housing ladder.”

Flexible ISA

Sylvia Waycot, Editor at Moneyfacts.co.uk, comments:

“The ability to withdraw money from an ISA and repay it back at a later date lays to rest one of the key frustrations of ISA saving.”

Personal Savings Allowance - £1,000 tax free

Sylvia Waycot, Editor at Moneyfacts.co.uk, comments:

“We finally have one rule that gives all savers equal opportunities and addresses the unfairness of having to pay tax on money that has already had a share taken by the taxman.”

Lifetime Allowance reduced to £1 million

Richard Eagling, Head of Pensions at Moneyfacts.co.uk, comments:

“Yet again the temptation to tinker with pensions has been too difficult for the Government to resist. The Lifetime Allowance has now been cut from £1.8 million in 2011/12 to £1 million. Although it is estimated that fewer than 4% of pension savers currently approaching retirement will be affected, constantly moving the pension goalposts does little to aid long-term retirement planning and undermines attempts to restore confidence in pensions. Given the radical shake-up to the pensions landscape set to be introduced from April with the onset of greater pension freedoms, it would have been wise to resist any further tinkering. The announcement that the Lifetime Allowance will be indexed in the future to protect against inflation is at least some consolation, although this will not come into effect until 2018.”

Extension of pension freedoms for annuitants

Richard Eagling, Head of Pensions at Moneyfacts.co.uk, comments:

“It seems that the Government is serious in its desire to explore the possibility of introducing annuity recycling, a change that could come into effect as early as next year if its consultation goes well. However, it is still very early days for the concept and there are numerous questions that need to be answered satisfactorily; in particular, how will existing annuities be valued fairly when they are sold? There is a real nervousness that introducing a second-hand annuity market could see those already receiving low annuity rates hit a second time and forfeit even more of their retirement income when they sell their existing plan. Early estimates have suggested that those selling an annuity may only get back a maximum of around 70% of the value of their annuity, in which case it is unlikely to be an appealing option for many individuals. While the desire to extend pension freedoms to current annuitants is commendable, the practicalities make this a potential minefield and the Government will need to tread carefully to ensure that retirees receive as much value from their existing annuities as possible.”

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in