Skip to Navigation

Balloons over Clifton Suspension Bridge

Upcoming changes

The party (or parties) that wins the general election in May is likely to make election promises that may change announcements already made - nothing is certain.

Currently the starting rate limit on savings income is to increase to £5,000.

The annual charge currently payable by non-domiciled individuals resident in the UK who wish to retain access to the remittance basis is to increase by £10,000 to £60,000 with a new charge of £90,000 for those who have been UK resident for 17 of the last 20 years.

From April 2015, savers will be able to access their defined contribution pension as they wish at retirement, subject to their marginal rate of income tax, instead of the current 55% charge for full withdrawal.

Get free access to our online guides and easy to use calculators