Welcome to our fifth newsletter for 2024 aiming to bring you the latest in financial news and updates.
This month we focus on the following topics:
HOUSE PRICES GROW SLOWLY IN MARCH: Higher mortgage rates affect affordability as the cost of buying a home strains budgets.e increased by 1.2% compared to last year, climbing to an average of £260,420. The last growth was seen in January 2023.
STEALTH TAX FREEZE THREATENS INCOME OF PENSIONERS: 1.6m additional retirees dragged into income tax levy. 8.5m currently paying income tax, up from 4.9m in 2010.
ENHANCED CHILD BENEFIT PAYMENTS SET TO COMMENCE: There was a significant uplift for families from 6 April as the annual entitlement for one child was raised. Additional child payments also increased.
BREXIT CHARGES COULD LEAD TO HIGHER FOOD PRICES: Fees of up to £145 will be charged from 30 April. Small imports such as sausages and cheese are included in the charge.
WANT TO TALK TO AN EXPERT? Call one of the team at Porter Garland for advice on any of your financial matters. Or to keep reading, click this link: news-roundup-may24-default