A budget for savers
Those with annuities will be able to sell them to a third party, taking the proceeds as a taxed cash lump sum or paying into a flexi-access drawdown.
The UK tax-free personal allowance to rise to £10,800 next year & £11,000 the year after, making it more affordable to save for the longer term.
A fully flexible ISA is being introduced! Take money in and out of your ISA in the same year without losing your ISA allowance.
‘Help to buy’ ISA
Also being introduced is the ‘Help to buy’ ISA where if you’re a first time buyer you can receive a maximum of £3,000 from the government when you buy your new home.