Stockport financial experts break down the Autumn Budget

Now that the Autumn Budget has settled, it’s time to look at how it affects Stockport. Key changes include the freezing of income tax thresholds until 2031, meaning the tax start point won’t rise with inflation. Another significant shift is in salary sacrifice pension contributions—these will be less beneficial, especially for private sector workers, as anything over £2,000 will incur National Insurance Contributions from 2029. Experts like Eden Campbell and Claire Lee from Beech Tree Financial Advice noted that while there was a lot of pre-Budget speculation, the actual outcomes were less disruptive than expected. The budget didn’t change income tax rates or introduce major pension alterations, but the lack of raised allowances means more income will be taxed over time. Overall, it’s not an exciting budget for those saving for retirement, but it does provide some clarity. If you need more financial guidance, Beech Tree offers insights and appointments in Heaton Chapel.

Read the full article at Stockport Nub News