Budget 2015 Briefing Note

Budget 2015 Briefing NoteFollowing the Budget at lunchtime today, we have published a short Budget briefing note.

This describes the main Budget announcements as they relate to personal financial planning.

You can download your free copy of this Budget briefing note here:

Budget 2015 Briefing Note

As with every Budget and Autumn Statement, the devil is often in the detail.

As more details come to light, we will add blogs on specific planning topics with our analysis.

If you have any questions about this Budget, please do leave a comment below, call us on 01483 274566, email hello@icfp.co.uk or connect with us on Twitter @InformedChoice.

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  • Edward Wynn

    In the budget report from the BBC it is saying that if you exceed the lifetime allowance for your pension pot you now only pay at your marginal rate not the 55% . Is this the case? Your rapid budget summary does not seem to include this.

    Also in the detail has he messed with those with FP2014 protection?

    • Hi Edward,

      We’re preparing a more detailed post on the subject of the lifetime allowance cut, which will be available within the next day or two. I have not yet seen any reference to the excess being taxed at marginal tax rates, rather than 55% (if you take the excess as a lump sum) or 25% plus marginal income tax rates (if you take the excess as income). Likewise, I have not yet read the detail on new or existing transitional protections, but will ensure our detailed post covers this as well.

      Best wishes,
      Martin

      • Edward Wynn

        OK I may have looked at the lump sum and marginal rates example. Useful to know eventually as I have FP14 and am at the tipping point

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