George Osborne has set a date for an emergency budget. On July 8, key changes to financial structure and legislation will be made, as proposed in the Conservative manifesto.
A number of adjustments to tax are expected to be announced, including an increase to the tax free personal allowance. More changes are likely to involve reforms to pensions and measures to prevent rises in tax and National Insurance. We could also see the inheritance tax threshold on homes increase to £1 million within 2 years.
This is Money has more details on the expected changes in the upcoming emergency budget.