Thursday marks the beginning of the latest tax year. Considering the current one included four chancellors, three fiscal events, one reversal of a fiscal event, a near meltdown of the pensions system and substantial tax changes, there’s quite a lot for investors to get their heads around.
On 6 April, high earners will pay substantially more tax as the threshold for the 45 per cent additional rate falls by nearly £25,000. However, for pension savers, there’s significant beneficial change as allowances and thresholds are increased or scrapped. Investors, though, face paying more as generous tax-free limits are cut.
Investors’ Chronicle takes you through all the major changes this week, and how to make sure your income, savings and investments are not negatively affected.
