The Government’s Autumn Budget Day will be on 22 November 2017. There are reports that this may include:
- A reduction in the annual pension allowance from £40,000 to £30,000 as well as the tapered annual allowance for higher earners being reduced from £150,000 to £120,000.
- Pension tax relief could be cut for older workers to fund a reduction in National Insurance Contributions for workers in their 20s and 30s.
- Stamp duty could be scrapped for first time buyers as well as more investment in the Help to Buy scheme.
- Enterprise Investment Scheme tax relief could be cut from 30% down to 20%.
- The repayment threshold for student loans could be increased from £21,000 to £25,000 and tuition fees could be frozen at their current rates.
These changes are predictions and rumors only and may not come to pass.