The Spring Budget was announced on the 8th March 2017.

Here are some of the major points of the budget at a glance for the individual:

1. The Income Tax Personal Allowance will increase on the 6th April 2017 to £11,500 for the next financial year.

2. The Capital Gains Tax Allowance will increase on the 6th April 2017 to £11,300. This is an increase of £200 in the present financial year.

3. The Inheritance Tax Nil Rate Band will remain at £325,000. However, the Residence Nil Rate Band of £100,000 will be introduced on the 6th April 2017 for the next financial year.

4. The ISA Allowance is to rise to £20,000 on the 6th April 2017 for the next financial year. The Allowance is £15,240 in the present financial year.


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