MSE News: Budget 2016: Personal allowance tax threshold to rise to £11,500

MSE_Luke
MSE_Luke MSE Staff Posts: 295
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The level at which people start to pay income tax will rise to £11,500 next April...
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'Budget 2016: Personal allowance tax threshold to rise to £11,500'
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Comments

  • Pincher
    Pincher Posts: 6,554 Forumite


    https://www.gov.uk/government/news/budget-2016-some-of-the-things-weve-announced


    I was so happy to see this:

    "From April 2016, the higher rate of Capital Gains Tax will be cut from 28% to 20% and the basic rate from 18% to 10%."





    I spent hours working out the difference between selling before 6th April at 28%, and selling after 6th April at 20%, and it was tens of thousands.

    And then I found:

    "There will be an additional 8 percentage point surcharge to be paid on residential property and carried interest (the share of profits or gains that is paid to asset managers)."


    Hours wasted. But I was so happy, until the bubble burst.
  • Wayne_O_Mac
    Wayne_O_Mac Forumite Posts: 236 Forumite
    Pincher wrote: »
    But I was so happy, until the bubble burst.
    Just like the property market then.
  • Pincher
    Pincher Posts: 6,554 Forumite
    Just like the property market then.


    The property market is bursting?

    Not before I exchange contract, please.
This discussion has been closed.
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