Three Benefits of a Snap Election

Due to parliament being dissolved on 3rd May there was insufficient time for the entire finance bill to be passed. The following proposed changes will therefore, not be going ahead in the timescales previously planned:-

• The fee payable with an application for probate was set to increase, in some cases considerably, from 1st May 2017.
• Money purchase annual allowance for pension contributions was due to be decreased from £10,000 to £4,000 for those in drawdown.
• The individual tax free allowance for Dividend income was set to be reduced from £5,000 to £2,000 pa, in April 2018.