Tag Archives: budget2015

So how might Budget 2015 impact you?

How will the Budget impact you?

How will the Budget impact you?

The final Budget before the General Election is here, and what does it have in store? We’ve seen announcements on pensions, tax, housing and much more that will affect all of us around the country in different ways.

Some of the headlines from Budget 2015 were:

Income tax
One big win for many is that the amount you can earn before being taxed – personal tax allowance –  was already due to increase from £10,000 to £10,600 from April, and is set to rise further  – up to £10,800 next year, and then to £11,000 the year after.

Some people will also benefit from the higher tax rate threshold – in other words, the moment you start paying 40p in the pound – being raised from £42,385 in 2014-15 to £43,300 by 2017-18, although some speculation had suggested it would go as high as £50,000. Continue reading