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:
Links referred to in the podcast:
- 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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