Tax Credit Cuts Scrapped

George Osborne’s statement on tax credits: “I’ve had representations that these changes to tad credits should be phased in. I’ve listened to the concerns. I hear and understand them. And because I’ve been able to announce today an improvement in the public finances, the simplest thing to do is not to phase these changes in, but to avoid them altogether. Tax credits are being phased out anyway as we introduce universal credit. What that means is that the tax credit taper rate and thresholds remain unchanged.”   Share this:Click to share on Twitter (Opens in new window)Click to share on Google+ (Opens in new window)Share on Skype (Opens in new window)Click to email this to a friend (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to print (Opens in new...

Help to Buy ISA good news for home buyers

During the 2015 budget the proposed help to buy scheme for first time property buyers was presented as providing a bonus to people who have saved into a help to buy ISA. When the funds are used to buy a house the government will contribute £50 for every £200 saved up to a maximum of £3,000 on savings of £12,000. Accounts should be available from autumn this year and savers will be able to deposit an initial sum of £1,000 and then up to £200 per month. The bonus payment will be available for house purchases of up to £450,000 in London and up to £250,000 anywhere else in the UK. Anything that helps people to get a foot onto the property ladder is a good move in my opinion as long as the scheme does not come with a lengthy set of qualifying terms and conditions.   Share this:Click to share on Twitter (Opens in new window)Click to share on Google+ (Opens in new window)Share on Skype (Opens in new window)Click to email this to a friend (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to print (Opens in new...