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The budget

Posted on 25th March 2015
New legislation

A summary of the recent budget

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Julie Temple Julie
Temple
Partner Telephone: 01473 694407
  • The threshold for personal tax allowance will increase from £10,600 to £10,800 in 2016 and £11,000 in 2017.
  • Confirmed plans for over 55s to trade in a pension annuity for cash.
  • From April 2015 national insurance payments for under 21s will be abolished.
  • From April 2016 national insurance payments will be abolished for employing a young apprentice.
  • ‘Next Parliament’ Class 2 national insurance payments will be abolished for self-employed.

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