Tax Free Allowance Changes On 6th April


There are changes to the ISA and Pension allowances in respect of the new tax year starting on 6th April. The changes are as follows:

  • The new full ISA allowance is £11,880 from 6th April 2014.
  • The current annual pension allowance of £50K will reduce to £40K.
  • The lifetime pension allowance reduces from £1.5M to £1.25M.

If you have not yet used your full ISA allowance for this tax year, you will lose the valuable benefit of sheltering up to £11,520 from UK tax.

Should you have any concerns or would like more information on how these changes affect you, then please contact us >>


Written by Clive Shaw | Chief Executive

Clive joined Mantle Financial Planning in 1991 & became Chief Executive in 2007 Read more >>

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