How does the 2021 budget affect the tapered annual allowance?
The tapered annual allowance was introduced in April 2016 and reduces the annual allowance available to high earners.
The minimum amount which the annual allowance can be reduced to will remain unchanged at £4,000 for tax year 2022/23.
Farrell Financial …
How does the 2021 budget affect the lifetime allowance?
The lifetime allowance (LTA) will remain unchanged at £1,073,100.
The chancellor has indicated that he plans to keep the lifetime allowance at this level until April 2026.
The lifetime allowance is the overall amount of pension savings that you can …
How does the 2021 autumn budget affect inheritance tax?
The inheritance tax nil rate band will remain unchanged at £325,000 in tax year 2022/23.
There are many other factors to consider when assessing your liability to inheritance tax. So, it is crucial to take expert advice on inheritance tax …
How does the 2021 autumn budget affect ISAs and Junior ISAs?
How does the 2021 autumn budget affect ISAs and Junior ISAs?
The ISA annual investment allowance for 2022/23 will remain unchanged at £20,000.
The junior ISA (JISA) annual investment allowance for 2022/23 will remain unchanged at £9,000.
Farrell Financial Planning …
Budget 2021 – a date for your diary
Chancellor Rishi Sunak will deliver his budget to parliament on Wednesday 27th October 2021.
The budget sets out the government’s financial plan of action.
As always Farrell Financial Planning will provide updates on what effect the budget will have on …