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Seeing this headline should make everyone happy but, while many people will benefit from the new tax rules that came into force from 6th April 2018, some people will be worse off.
An article in The Metro discusses who will actually be better off with the new increase in the tax free earnings and who might not be so lucky.
Sheetal Radia, one of our Charted Wealth Managers, comments on who how the new tax rules can effect you.
He explains "The key thing as a financial planner, is looking at things on an inflation-adjusted level. You may be better off on a nominal basis, but are you from an inflation-adjusted point of view? It’s not as good."