The UK Budget 2025 leaves stamp duty unchanged for first-time buyers but introduces significant changes to savings limits, launches a consultation on replacing Lifetime ISAs, and provides cost of living support measures that could free up more money for deposit saving.
The Budget 2025 introduces a £2,000 cap on salary sacrifice pension contributions from April 2029, with National Insurance applying to amounts above this threshold, affecting around a quarter of current users.
The UK Budget 2025 freezes income tax thresholds until 2031, introduces a £2,000 cap on NI-exempt salary sacrifice pension contributions from 2029, and provides £4.7 billion additional school funding, creating a mixed financial picture for teachers.
The UK Budget 2025 confirms NHS staff pay awards already announced in May, invests £300 million in technology to reduce administrative burdens, but also signals 18,000 administrative job losses through restructuring.
The UK Budget 2025 delivers a 4.8% State Pension increase worth up to £575 annually, restores Winter Fuel Payments for those earning under £35,000, but freezes income tax thresholds until 2031, potentially pulling more pensioners into paying tax.
