Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Tesla Robo Taxis are Coming THIS YEAR! - 16th June 24
Will NVDA Crash the Market? - 16th June 24
Inflation Is Dead! Or Is It? - 16th June 24
Investors Are Forever Blowing Bubbles - 16th June 24
Stock Market Investor Sentiment - 8th June 24
S&P 494 Stocks Then & Now - 8th June 24
As Stocks Bears Begin To Hibernate, It's Now Time To Worry About A Bear Market - 8th June 24
Gold, Silver and Crypto | How Charts Look Before US Dollar Meltdown - 8th June 24
Gold & Silver Get Slammed on Positive Economic Reports - 8th June 24
Gold Summer Doldrums - 8th June 24
S&P USD Correction - 7th June 24
Israel's Smoke and Mirrors Fake War on Gaza - 7th June 24
US Banking Crisis 2024 That No One Is Paying Attention To - 7th June 24
The Fed Leads and the Market Follows? It's a Big Fat MYTH - 7th June 24
How Much Gold Is There In the World? - 7th June 24
Is There a Financial Crisis Bubbling Under the Surface? - 7th June 24
Bitcoin Trend Forecast, Crypto's Exit Strategy - 31st May 24
Zimbabwe Officials Already Looking to Inflate New Gold-Backed Currency - 31st May 24
India Silver Imports Have Already Topped 2023 Total - 31st May 24
Gold Has Done Its Job – Isn’t That Enough? - 31st May 24
Gold Stocks Catching Up - 31st May 24
Time to take the RED Pill - 28th May 24
US Economy Slowing Slipping into Recession, But Not There Yet - 28th May 24
Gold vs. Silver – Very Important Medium-term Signal - 28th May 24
Is Gold Price Heading to $2,275 - 2,280? - 28th May 24
Stocks Bull Market Smoking Gun - 25th May 24
Congress Moves against Totalitarian Central Bank Digital Currency Schemes - 25th May 24
Government Tinkering With Prices Is Like Hiding All of the Street Signs - 25th May 24
Gold Mid Tier Mining Stocks Fundamentals - 25th May 24
Why US Interest Rates are a Nothing Burger - 24th May 24
Big Banks Are Pressuring The Fed To Losen Protection For Depositors - 24th May 24
Another Bank Failure: How to Tell if Your Bank is At Risk - 24th May 24
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24

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.


© 2005-2022 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