Greek Finance
has always been the country’s biggest problem and Britons want change. Every
political party in the country had put their best election foot forward. As the
Tories once again rule the United Kingdom, they deliver these changes in the
following areas.
1. Prevent Income Tax Increase
As promised,
the conservative party had promised legislation to prevent any income tax
increases. They have also stopped national insurance and VAT increases for as
long as they stay in power.
2. Tax-Free Personal Allowance
From £10,600,
Britons’ tax-free personal allowance will increase to £12,500 by 2020.
3. Inheritance Tax
Tax-Free
allowance from £650,000 per couple will increase to £1 million through an extra
allowance grant for people with main homes. If a couple has £500,000 shares and
a £500,000 home, they would pay no death duties.
4. Pensions
Pensions will
rise to 2.5 pc and inflration or earnings taxes will remain. However, pensioner
will still have free bus passes, TV licenses and winter fuel payments.
Meanwhile,
high earners at £150,000 annually will have a pensions deposit limit. This
could mean that a £40,000 to £10,000 situation.
