Kirkpatrick & Hopes - Succession Planning Accountants

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Budget 2016: The proposals in detail – changes to savings income

This proposal was already announced and from April 2016, the following interest is tax free

Basic rate taxpayers £1,000

Higher rate taxpayers £500.

No tax free savings allowance applies to individuals earning more than £150,000 per year.

All bank and building society interest will be paid gross from 6 April 2016.

Andy Scott

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