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What will next years general election bring?

Screenshot2015 01 09at09.46.52 - Enable FLP

 Enable’s experienced IFA’s know that political change often brings fiscal change and for investments and wealth management tax management is vital. After the round of Autumn conferences all parties are promising major changes to tax, pensions, welfare and property over the next parliament.
Although it is tricky to predict what another coalition might bring these appear to be the key financial element of the key parties:

LibDems:
Wholesale reforms of pensions tax relief
Auto-escalation of pension contributions
New higher rate council tax bands
Higher taxes on investments
Raise the personal allowance to £12,500
No EU referendum unless there is major treaty change

Conservatives:
New schemes to boost home ownership and first-time buyers
Raise the personal allowance to £12,500
Raise the 40p tax band to £50,000
Hold an in/out EU referendum by 2017

Labour:
Raise new taxes from bankers’ bonuses, tobacco firms, payday lenders
Cut higher rate pensions tax relief to 20p
Introduce a fiduciary duty on all financial services staff
Reintroduce Schedule 19 stamp duty on UK funds
Reintroduce 50p income tax band on salaries over £150,000
No EU referendum unless there is major treaty change

Ukip:
Raise personal allowance to £13,500
Create new 35p tax band between £44,000 and £55,000
Scrap 50p income tax band
Leave the EU

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 – Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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