Mini-budget: 5 things you should know

Here are some things to consider with the new changes.

1

Make pension payments before April 5 next year to secure higher tax relief.

2

The Bank of England’s interest base rate is rising; consider if fixing your mortgage rate is the right move for you.

3

Bonuses and dividends paid after April 2023 will have a lower tax rate. 4

The National Insurance rate rise earlier this year has been cancelled, saving 1.25% on earned income.

5

The threshold for zero stamp duty on house purchases will double to £250,000 – and increase to £425,000 for first time buyers.