• Taper of annual allowance for those earning between £150,000 and £210,000 from £40,000 to £10,000  read more
  • Pension input periods will be aligned to tax years for all schemes from April 2016 read more
  • Second hand annuity market delayed until 2017
  • Pension wise extended to those aged 50 and over
  • Wider consultation on tax relief reforms in Green paper issued today. read more
  • Confirmation of change of Special Lump Sum Death Benefit Charge from 45% to the beneficiaries marginal rate where the lump sum is paid to an individual.
  • Confirmation that the Special Lump Sum Death Benefit Charge will remain at 45% where the lump sum is paid somewhere other than to an individual, such as a trust read more

Full details of the speech can be found here

If you would like to speak to us about how the Budget affects your financial situation, please call Alan Clifton on 0800 731 7614 or e-mail Alan.Clifton@fpgonline.co.uk

There will be a more detailed look at today’s Budget on the Financial Planning Group website tomorrow.

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