Autumn Statement 2013 – what was missing?

What was missing?

After last year’s surprise announcement over the tenfold increase in the Annual Investment Allowance, open minds were the order of the day. Areas not announced in the Autumn Statement 2013 which we thought might get a mention included:

Seed Enterprise Investment Scheme – the threshold for the SEIS was predicted to increase from £150k to £500k but no announcement was made to this investment-boosting measure

Personal Allowance – this is due to increase to £10,000 from April 2014 but there was no announcement of the much championed increase to £10,500 from April 2015

Discretionary Trusts – It was predicted that the IHT nil band, currently £325,000 would be spread over multiple trusts of the same settlor, although this measure played no part in today’s statement

Stamp Duty – Suggestions that a decrease in the ‘mansion tax’ threshold from £2m to £1m did not come to light and calls to increase the threshold from £250k went unanswered

Buy to Let – We were expecting mortgage interest relief to be abolished although buy to let landlords will no doubt welcome the continued availability of this tax relief

ISAs – Millions of investors will breathe a collective sigh of relief as the feared lifetime cap on savings of £100,000 did not materialise

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