Personal Finance Highlights 2010 – 2015

Personal Finance Highlights 2010 – 2015


When the coalition government first came to power, all the talk was of deficit reduction and setting up processes to prevent the causes of the recession. We pull out the highlights for you:

There have been some very beneficial developments for individuals over the past five years. The Seed Enterprise Investment Scheme (SEIS) was trialled and then made permanent, offering investors up to 50 per cent tax relief in the year the investments were made on up to £100,000 of qualifying investments.

If you’ve owned a property for the past five years, you’re likely to have experienced capital appreciation as the Halifax House Price Index has reported that the average house price across the UK has grown from £167,207 to £192,372.

The state pension age was raised to 66, then 67 and is likely to continue rising, but the triple lock (where pensions rise by whichever is higher of average earnings increase, price inflation or 2.5%) has given comfort to those relying on it for retirement income. Relying on a state pension to support retirement is fraught with risk though, and those planning retirement should factor in ever-increasing life expectancy and the risk of inflation to make their finances go further in later life.

ISA rules were simplified, renamed to NISAs and the personal tax-free allowance raised – it’s now going to be £15,240 a year from April 2015.
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