What to Expect in Budget 2014

On Wednesday the Chancellor George Osborne will be delivering this year's annual Budget Report. What should savers and investors expect?

Coutts 17 March, 2014 | 4:23PM

This article is part of Morningstar's "Perspectives" series, written by third-party contributors. Here, Dominic O'Connell, head of Tax, Trust & Estate Planning at Coutts gives his predictions ahead of Wednesday’s Budget. 

With a May 2015 election on the horizon there has been media speculation and lobbying from certain politicians for the Budget to include a raft of tax cuts. We don’t envisage any wide-ranging reductions, although further targeted cuts for the lower paid and certain businesses could feature.

Income Tax Changes

A further increase in the Personal Allowance to £10,500 seems likely and would be welcomed by many who have not seen a real rise in incomes in recent years. There has also been talk of raising the lower threshold for paying tax at 40%, to ease the burden on middle-class taxpayers who have suffered from ‘fiscal drag’. We’d be surprised if this were introduced, though, particularly given previous announcements of further savings that still need to be found.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Coutts  Coutts provides customised solutions for clients private banking and wealth management needs.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2021 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies       Modern Slavery Statement