UK Budget – March 2023

Written Report


The updates arising from the UK Chancellor’s Budget may have impacted your financial strategy.

Download the PDF to explore our Wealth Management Team’s in-depth analysis of the updates and their potential implications for you in our UK Budget Update. The document covers the following revisions:

  • The abolition of the Lifetime Allowance (LTA) and the maximum amount of Tax-Free Cash that can be drawn from a pension under the new regime. There is also a short discussion on how investors who hold various protections may be affected by these changes and the potential future of the LTA were there to be a change of government.
  • Increases to the Annual Allowance, Tapered Annual Allowance and the Money Purchase Annual Allowance.
  • Previously announced changes to Capital Gains Tax (CGT), the Dividend Allowance and reduction of the Additional Rate Tax (ART) threshold for higher earners.

If you have any questions regarding the updates, please don’t hesitate to contact us or get in touch with your wealth manager.

To read more Bentley Reid content please visit

Disclaimer: The content of this communication is for information purposes only. Bentley Reid believes that, at the time of publication, the views expressed and opinions given are correct but cannot guarantee this and viewers intending to take action based upon the content of this communication should first consult with the professional who advises them on their financial affairs. Neither the publisher nor any of its subsidiaries or connected parties accepts responsibility for any direct or indirect loss suffered by a recipient as a result of any action or inaction, in reliance upon the content of this communication.

Download Our App

Download and use the Bentley Reid App, available on Apple and Android devices.

app store
Play Srore
google play qr code