MTTM Podcast Episode 451 – Spring Budget 2024 Special

Listen to Episode 451

On this week's podcast we analyse what was and wasn't announced in this week's Spring Budget and what it means for your finances.

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Episode Quiz

Here are five multiple-choice questions to test yourself after listening to this week's episode.

Questions

1) The starting National Insurance rate for the employed was 12% in November but will be what from April 2024?
A) 6%
B) 8%
C) 10%
D) 11%

2) The rate of Class 4 NICs for the self-employed will fall from 9% to what in April 2024?
A) 5%
B) 6%
C) 7%
D) 8%

3) How much is the proposed UK ISA allowance?
A) £3,000
B) £4,000
C) £5,000
D) £10,000

4) The threshold to start paying back child benefit will increase in April from £50,000 to what?
A) £55,000
B) £60,000
C) £70,000
D) £80,000

5) How much will employed individuals earning £35,000 a year be better off after the NI cuts compared to the Autumn?

A) £25
B) £50
C) £75
D) £100

Answers

• Answer 1: B) 8%
• Answer 2: B) 6%
• Answer 3: C) £5,000
• Answer 4: B) £60,000
• Answer 5: C) £75

Resources:

• Spring Budget 2024 Summary - How will it impact you?
• New National Insurance cuts
• UK ISA announced - How will the 'British ISA' work?
• Income threshold for Child Benefit tax increased to £60,000
• Start or restart Child Benefit payments
• Spring Budget in full from GOV.UK
• 80-20 Investor

 

 

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