UK: ISA Improvements “Dramatic” plus “A Budget for Business”

HM TreasuryRetirement accounts can be a pretty mundane topic.  But creating an environment where people can save for their retirement is incredibly important.  Having endured punitive restrictions in the US, I can appreciate the increase in ISA limits.  The tax free limit for the “New ISA” will be raised to £15,000 beginning July 1, 2014.  In USD that is equivalent to almost $24,000.  Not too shabby.  On top of that, the UK government is being proactive by allowing new forms of Alt Finance to be held in these accounts. This means Peer-to-Peer loans may experience something of a boom.  Good for investors and good for the economy.

The UK government is also determined to help British Businesses. They are accomplishing this goal by lowering corporate taxes and creating a more robust environment for job creation.  They also just revised economic growth upward for 2015 to 2.3% and the economy will be £16 billion bigger than forecast just four months ago.  Perhaps there is a lesson her.

HM Treasury has created some interesting graphics describing the some of the budget announcements – which are embedded below.

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