Annuity changes provide advisory opportunity
Major changes to pensions and a big increase to the amount of money people can save without paying tax announced in the Budget are likely to increase demand for advice on inheritance tax and tax planning.
From 1 July, the limit on the amount of money an individual can pay into a tax-free Individual Savings Account (ISAs) will be increased from £11,800 to £15,000.
The new accounts will be called New Individual Savings Accounts (NISAs). The savings can be held in cash or stocks and shares.