Affecting all landlord and house owners the 3% increase on the tap will affect all properties above £40,00. It’s a huge increase for someone who would be usually paying £2,500 to £10,000.
The new changes seek to make government pensions seem more clear, however according to pensioners surveyed they seemed more confused about the changes. But in simple terms there will be a flat rate payment of £115.65 a week, which is an increase of £35.65. According to the BBC this will make things fairer for Women and those who are self-employed. Also the lifetime allowance for pension is being cut by £25,000 going from 1.25 million to 1 million only.
It’s good news for public sector workers! They’ll seen an increase of 1 percent. Not much, and deemed ‘miserly’ by trade unions, it’s still good news. And if you work as a prison guard, this could be even better for you. With a 1.36% increase. This is a ‘reward’ for the implantation of the recent changes to the prison system.
Houses rented out from the council and hosing associations will see their rent increase by 1% for the next four years. However overall the government plans to put a cap on housing benefit reducing it from £26,000 to £20,000.
This new law allows people to earn up to £1,000 tax free. This is great news for people looking to save some money in their savings accounts without being taxed. if you are paying a higher perfect of tax you will only have an allowance of £500. And the top earners will not be granted an allowance at all.
Also a new tax on dividends of 10% is being introduced, but will allow for a maximum £5,000 tax free allowance.
If you need any advice around these new laws or any other legal matters, don’t hesitate to contact our team on: 0116 2999 199 or email us on: firstname.lastname@example.org