Exact matches only
Search in title
Search in content
Search in comments
Search in excerpt
Search in posts
Search in pages
Search in groups
Search in users
Search in forums
Filter by Custom Post Type
Filter by Categories
Activities
Alternative Jobs
Back up your life
Banking
Beauty
Car
Clothing etc
Computer
Don't be a dick
Family
Flights
Food & Drink
Fun Methods
Gaming
General Saving / Must Read Posts
Home
Improve yourself
Insurance
Invest
Long term cash
Mobile Phones
News
Product Recalls
Products we recommend
Profit
Quick Cash
Refunds
Save
Scams
Spend less
Students
Technology
Things that impress us
Trains
Travel
Tricks companies play
TV
Uncategorized

More 10ways posts:

Featured Videos:

Legendary Deals:

More 10ways posts:

Key points from The Budget 2016

Key points from The Budget 2016

“A budget for the next generation” – George Osborne

Here are the basics and what we think is relevant:

Savings:

  • The lifetime ISA announced – from April 2017 anyone under the age of 40 can set one up, max saving of £4000 each year, for every £4 saved Gov will give you £1 (every year until age of 50). No tax when you withdraw however a small fee (possibly refundable if you add the money back in).
  • £20K ISA allowance (was £15k)

Tax allowance:

  • £11,500 personal tax-free allowance (April 2017)
  • £45,000 higher tax bracket (April 2017)
  • Capital gains tax cut from 28% to 20% (& 10% for lower tax payers)

Small businesses / Entrepreneurs:

  • £1000 a year tax break for people who make money from activities such as renting out rooms on short-term basis, e.g. via AirBnb
  • Action against foreign countries storing products in the UK and not having to pay VAT (we will see an increase in prices for some items on Amazon/eBay etc)
  • Reduce corporation tax (tax on profits of UK companies) further – April 2020 – 17%
  • Stamp duty reduced for small firms on purchasing property
  • Class 2 national insurance contributions scrapped by self-employed workers
  • Doubling Small Business Rate Relief to £15,000 from £6000 and larger businesses from £18,000 > £51,000

Sugar:

Tackling sugar and obesity in children – Sugar levy introduced for companies to pay (companies may pass these on to consumers) – Fruit juice and Milk based excluded – By 2018 – The levy will be spent on sports in schools. And schools will be able to apply for money to extend the school day, with more sports activities.

Education:

  • By 2020 every Primary and Secondary schools to become academies or be in the process
  • Maths to be taught until age of 18

Disability budget ‘to rise by more than £1bn’

Duty

  • Fuel duty freeze to continue (supposedly saving the average driver £75)
  • Beer duty and cider duty to be frozen
  • Spirits & Whiskey duty to be frozen, other alcohol to increase with inflation

Transport / Infrastructure:

  • Manchester and Leeds high-speed rail
  • M62 upgrades
  • Tunnel Manchester > Sheffield
  • A66 / A69 upgrades
  • Cross Rail 1 & 2
  • Severn crossings (Wales) toll to be halved.
  • Flood defences increased – Standard insurance tax increased by 0.5% to cover cost (£700M)

Tackle homelessness:

A promise to tackle the issue (Some details on Guardian website (from yesterday))

Around the UK:

Taxes cut for North Sea oil industry by 10%
New air ambulance service will be created for Northern Ireland.

Where can I read more about this?

The Government website

More 10ways.com posts:

Leave a Reply

Be the First to Comment!

avatar

wpDiscuz

Leave a Facebook comment