Tax Relief for UK Families
Financial Support for Raising Children
According to the Independent, in April UK families are dealing with higher bills but there’s some good news too. The government is changing tax rules meaning about 170,000 UK families won’t have to pay as much. This change will help UK families, especially single parents. It’s part of efforts to support UK families with many set to get around £1,260 more to help with the costs of raising children.
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Enhanced Savings Opportunities
For UK families who save money, new options are coming up. British Savings Bonds will soon be available offering a guaranteed return on savings for three years. Also, the rules for Individual Savings Accounts (Isas) are becoming more flexible. This means UK families can put money into the same type of Isa more than once a year. These changes give savers more choices and could help them make more money. Plus pensioners will see their state pensions increase which is good news for retirees trying to manage their finances.