• Budget Day started with an announcement by the Bank of England that the base interest rate will reduce from 0.75% to 0.25%.
  • Income Tax allowances and thresholds remain unchanged.
  • The ISA allowance remains at £20,000 but the Junior ISA contribution limit rises to £9,000.
  • Pension Annual Allowance remains at £40,000 but tapering does not begin until threshold incomes are above £200,000.
  • The National Insurance primary threshold limit rises to £9,500.
  • The CGT annual exemption rises to £12,300.
  • There is a reduction in the allowance for entrepreneur’s relief from £10 million to £1 million.
  • Fuel duty and duty on alcoholic drinks has been frozen.
  • Changes to sick pay were introduced designed to help those with Coronavirus (COVID-19) or symptoms that keep them off work.
  • Business Rates have been removed for the next financial year for the majority of small businesses.

For further details please click on the following link to: Technical Connections Budget Analysis – Spring 2020

Budget Headlines – Spring 2020

Last Week in the Markets

 27- 01 July 2022
Index Close Week’s Change 52 - Wk High 52 - Wk Low
FTSE
100
 7,168 -0.57% 7,687 6,788
Dow Jones
(US)

30,775

+0.32% 36,953 29,653
Nikkei
225

25,936

-2.12% 30,796 24,682
DAX  12,813 -2.35% 16,290 12,439

MJB Partnership on Twitter

Follow us on Twitter