The latest UK budget will have a range of impacts on Expats, particularly retired Expats
London, UK (Pryce Warner International) May, 1st 2012 – The most immediate and notable impacts of the latest budget are the cutting of the top rate of tax to 45p.
For Expats, especially pensioners, pensions will take a hit due to plans to freeze the age related allowance as well as the automatic review of the state pension age.
This means that many will face an unmoving state pension income for the foreseeable future, which will be hit further due to increasing inflation.
However, individual income tax allowances will rise from £8105 to £9205 from April 2013. This will mean a slight reduction in most Expat’s tax bills.
By Aneil Fatania
Pryce Warner International Group
For any corrections of factual information contained within our news items please contact our editor.
Telephone: U.K.- +44 20 7735 5885 or Monaco - +377 97 97 29 22
Subscribe to NEWS