The Autumn Budget was held on the 27th October 2021.  As far as financial planning is concerned, very little has changed.

  • The minimum age at which pensions can be accessed is currently 55, but this will be changed to age 57 in April 2028.
  • The charging cap for auto enrolment pension schemes is being reviewed and could rise from the current level of 0.75% per annum.
  • The way tax relief is administered on employer pension contributions for lower earners could be revised to make the system fairer.
  • The State Pension will be increasing in line with CPI and not linked to national earnings, as it was previously.
  • Income tax on dividends is set to increase from 7.75% – 8.75% for basic rate tax payers and from 32.5% – 33.75% for higher rate tax payers.
  • Employee and employer national insurance rates will be increasing as a ‘health and social care levy’.
  • All ISA subscription limits and pension allowances have remained the same.
  • Income Tax, Capital Gains and Inheritance Tax Rates and allowances have also remained the same.
AUTUMN BUDGET 2021 OVERVIEW

Last Week in the Markets

 22 - 26 November 2021
Index Close Week’s Change 52 - Wk High 52 - Wk Low
FTSE
100
 7,044 -2.89% 7,403 6,264
Dow Jones
(US)

34,899

-2.05% 36,566 29,464
Nikkei
225

28,752

-2.93% 30,796 26,327
DAX  15,257 -5.75% 16,290 13,009

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