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 https://www.bentleyreid.com/publications/.