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Post date: Mar 18, 2016 10:29:13 AM
Guten tag!
On 16th March the 2016 Budget took place. Here are some key points that will be integrated into our CSK over the coming week:
Pensions and Savings
- Money Advise Service to be abolished
- New state-backed savings scheme for low paid workers worth up to £1,200 over four years
- New ‘lifetime’ Isa for under 40s, with government putting in £1 for every £4 saved
- Annual ISA Limit to rise from £15,240 to £20,000
- Threshold at which people pay 40% income tax will rise from £42,385 to £45,000 in April 2017
- Tax free personal allowance to rise from £11,000 in April 2016 to £11,500 in April 2017
Health and Education
- Compulsory maths lessons until 18 to be looked at
- Plan for all schools to become academies by 2022
- New sugar tax introduced in 2 years-time which will fund afterschool activities for Secondary schools throughout the country.
Business
- Headline rate of corporation tax (currently 20%) to fall to 17% by 2020
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