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Wesleyan Responds to Summer Budget Announcement

Commenting on the changes announced in today's Summer Budget, Alan Whiting, Wesleyan's Head of Group Marketing, said:

Inheritance Tax

"An increasing number of people find themselves unexpectedly breaching the Inheritance Tax threshold simply because they have owned a property for a long period of time and over the past 30 years, the average UK house price has increased by 450%.

"Adding a 'family home allowance' to the existing threshold is good news for those who have seen the value of their properties increase and were worried about how they and their families might be affected."

Pensions

"There has been a lot of upheaval in the pension industry in recent years and the Chancellor publishing a Green Paper suggests more reforms are to come.

"Anything that can be done to encourage more people to save for their retirement is to be welcomed, and I'm sure many in the pensions industry will be looking to join in and influence the debate.

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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