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25/3/2008 - The Budget 2008

Read about how the Budget may affect you.

In the Budget report released on 12 March 2008, the Chancellor announced changes to legislation that will be introduced via the Finance Bill.

How might the changes affect me?

  • The amount you can save towards your pension tax free will be increased.
  • The basic rate of income tax will be reduced from 22% to 20%, and the starting rate of 10% will be abolished.
  • The Inheritance Tax threshold has been increased.

You can read more about these and the other main issues affecting occupational pension schemes, such as SIPS, on Pensions Express, the new online news service from the SIPS administrators, Capita Hartshead.

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