UK. 20 key changes to tax, pensions, benefits, rail fares and more coming in 2020
A huge number of changes are planned for 2020 that will affect many aspects of your life – including changes to benefits, pensions and transport fares.
Some of the moves will be good news for your finances – others will hit you in the pocket.
Benefits are rising, while tax breaks are taken from landlords – and while the state pension is up, free TV licences are being taken away.
There are also new rights coming affecting bank accounts and broadband – as well as a new £20 note, Mirror Online reports .
Hargreaves Lansdown personal finance analyst Sarah Coles said: “2020 should finally see all sorts of things we’ve been waiting interminably for – from an increase in benefits, to a pause in state pension age rises.”
She added: “It’s not all good news though, especially if you’re over the age of 75 and now have to find the cash for a TV licence, or if you’re a landlord who relies on mortgage interest relief at a higher rate to make renting add up.”
Here are the 20 biggest changes we know about:
1. Rail fares increase 2.7% – January 1 It’s a case of new year, new price when it comes to train fares – with an average rise of 2.7% coming.
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