LATEST NEWS

What effect will the election have on your finances?

 

Election 2017

It’s finally over, and the result is not what most of us would have expected. But what does the recent election mean for your finances?

There are many question marks over what exactly our government is going to look like over the next few months, but one thing is sure – there will be changes that could have a significant effect on your finances.

  • Performance of the pound – it has already taken a tumble against the dollar and that will have wide reaching effects.
  • Investments – people will be looking to check the security of their investments and predict the longer-term effects of the new government
  • Tax-free dividend allowance – this will drop from £5,000 to £2,000.
  • Cost of childcare – from September some younger children will be entitled to 30 free hours per week of care
  • Personal allowance – you will be able to earn up to £12,500 before paying income tax
  • Rise in the National Living Wage
  • Ban on lettings agent fees – a big effect on anyone looking to rent.

Don’t be caught off-guard – we can help you plan for the changes.  Check out our range of services here

To look at the implications of the election in detail, we recommend this excellent article from the BBC business site:


Election 2017: What now for your finances?

 

What will effect will Brexit have on your finances? The incredible new online accounting system