Welcome to Gretchen’s monthly Vlog!
Since my last recording, we’ve had another budget and Jeremy Hunt made a few changes to National Insurance and some other small tweaks.
The main highlights are:
The main rate of Employee National Insurance (Class 1) will be reduced from 10% to 8%. This had already been reduced from 12% to 10% in January 2024.
The higher rate of capital gains tax on residential property will be reduced from 28% to 24%.
The threshold at which the child benefit tax charge is paid will increase from £50,000 to £60,000 with the upper threshold increasing from £60,000 to £80,000.
A new British ISA is to be introduced which will allow an additional £5,000 to be invested in an ISA. This will have to be invested in UK assets and the new allowance will be in addition to the current £20,000 ISA allowance.
You can watch Gretchen’s full Vlog on you tube here
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