Well, the first Conservative Budget for nearly 18 years, has brought lots of surprises with it.

The main changes for the Financial Services industry, are not surprisingly fairly significant, but the main items appear to be :-

National Living Wage - will start at £7.20 and rise to £9.00 per hour - from April 2016 to April 2020

Pension Contribution Allowance reductions for those earning over £150,000 - from 6th April 2016

Deferment of the 'Right to Sell an Annuity' - from April 2016 to April 2017

Insurance Premium Tax will increase from 6% to 9.5% - from November 2015

Mortgage Interest Relief for Buy to Let Investors, will be reduced to Basic Rate of Income Tax - Will be phased in from April 2017

Personal Allowances will be increased to £11,000 and the Higher Rate Tax threshold rises to £43,000 - from April 2016

Changes to the rate of Taxation on Dividends - from April 2016

Changes on Benefits - significant changes to most benefits, including Working Tax Credits and Children Tax Credits - from April 2016 and onwards

Inheritance Tax Threshold on properties will rise to £1,000,000 (for a couple) - from April 2017

Potential Changes to Tax Relief on Pensions - Consultation to be started in the summer of 2015

Potential Changes to Pensions and Savings - Consultation to be started in the summer of 2015

So lots of changes to take in and understand!

As these are only the headline details (the full Budget runs to 123 pages) should anyone like further information or a review to assess how the changes will affect them, please contact us on 0118 929 8065 or via the 'Contact Us' page.