UK Budget Updates

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.