- From 1st July 2014, ISAs will be reformed into a simpler product, the 'New ISA' (NISA), with equal limits for cash, and stocks and shares.
- From 1 July the NISA limit will be £15,000 - the biggest ever increase in ISA limits.
- From 1st July, Junior ISAs and CTF allowances will rise to £4,000
- Radical reforms to the way in which benefits can be drawn from pension arrangements, encouraging the use of alternatives to the traditional annuity
- Rise of £560 in the personal allowance to £10,000 for 2014/15
- A £415 increase in the higher rate threshold for 2014/15
The 2014 Budget update was produced by Technical Connection
if you require personal advice on how the budget effects you we strongly recommend you seek Independent Financial or Tax Advice.
To read our 2014 Budget Round Up in full open the attached document.
We'd also love to know how you fared from this year's Budget.