"The 2% increase to dividend tax rates, property and savings (raising over £2 billion) presumably breaks Labour's manifesto pledge not to increase Income Tax. The reduction in the cash ISA limit to £12k will cost a higher rate taxpayer over £140 in income tax (assuming interest rate of 4.5% and no personal savings allowance). The ISA regime has just been made (even more) unnecessarily complicated by having a different regime for over-65s. I understand the logic but this is making a mess of ISAs"
"The changes to salary sacrifice pensions from 2029 are another damaging blow to business after last year's employer's NIC increase. This will be inflationary and lead to further job losses. It was a certainty that personal tax allowances and thresholds would be frozen in today's Budget. I wasn't expecting it would be for another 3 years and will drag almost 1 million people into higher rate (40%) tax."
Budget 2025 increases dividend, property, and savings tax rates by 2%, raising over £2 billion. The cash ISA limit is reduced to £12k, increasing income tax for higher-rate savers by over £140 (assuming 4.5% interest and no personal savings allowance). ISA rules now differ for over-65s, adding complexity. Salary-sacrifice pension changes from 2029 will raise employer costs, be inflationary, and may cause further job losses after last year's employer NIC rise. Personal tax allowances and thresholds are frozen for three years, moving almost 1 million people into the 40% tax band and adding new personal tax rates.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]