Top 10 changes for the UK’s new tax year
By Chang Lin Zhu, 6 Apr 17
To hail in the new tax year, International Adviser has compiled the top 10 changes to remember for planning this year’s finances.
1. Individual savings accounts
A maximum of £15,240 (€17,804, $18,983) can be paid into an Isa, earning returns that are free of income or capital gains tax this year. The limit will jump to £20,000 for 2017-18.
On 6 April, the new Lifetime Isa will be introduced, allowing the under-40s to save up to £4,000 a year with a 25% bonus from the government to fund a first-time property purchase and save for retirement
Those looking to save on behalf of children can put up to £4,080 in a Junior Isa this year, and up to £4,128 next year.
