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Budget 2016: What it means to you...

Yesterday the Chancellor delivered a Budget that, while not quite living up to the hype, has provided a couple of surprises along the way. In the four months since the 2015 Autumn Statement economic growth has dipped and thoughts have moved on to the implications of Britain’s future in, or indeed out of, the EU.

In light of this the UK’s growth forecast has been revised downwards and the Chancellor has issued a strong warning that leaving the EU will put the economy at greater risk. 

The intention remains to reduce the national deficit, and return the country to surplus by the end of the current Parliament in 2020. The Chancellor was keen to emphasise that “this is a budget for the next generation”, giving new opportunities to savers under 40, families and small businesses including internet start-ups. 

Our summary sets out the main changes to tax rates and allowances for individuals, companies and trustees, which we hope you find of interest.

To read our full summary and to see what it means to you, please click here.  

Investing involves risk and the value of investments and the income from them may fall as well as rise and are not guaranteed. Investors may not get back the original amount invested.