The government has U-turned on its plans to scrap the 45p rate of income tax for higher earners.
The plan to scrap the 45p rate, paid by people earning more than £150,000 a year, was announced as part of a package of tax cuts. Chancellor Kwasi Kwarteng said the proposals had become a “massive distraction on what was a strong package”
“We just talked to people, we listened to people, I get it,” he added.
Blick Rothenberg tax partner Robert Pullen said: “I wouldn’t be surprised if Liz Truss and Kwasi Kwarteng now looked at other tax cutting measures for the Autumn Budget on 23 November, but they will need to tread very carefully given the recent social and political backlash and will need a fully costed plan to substantiate any changes.”
The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
Intergenerational lending
MoneyAge News Editor, Michael Griffiths, hosts Family Building Society BDMs, Amar Mashru and Arif Kara, to discuss intergenerational lending and explore ways that buyers can use family income to help increase their borrowing capacity when applying for a mortgage
Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.
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