What are the personal tax allowances and rates for the new tax year which started on April 6th 2017, and how have these changed since last year?

The personal allowance (the amount of income which you don’t pay tax on) rose from £11,000 in the last tax year to £11,500. For most people, this will result in an increase in pay of £100 per year.

Above this figure, most income (e.g. salary) is taxed at 20% up to the higher rate tax threshold.

The higher-rate tax threshold rose from £43,000 in tax year 2016/17 to £45,000 with effect from April 6^th, 2017.

Above the higher rate tax threshold, most income is taxed at 40% up to £100,000.

For income between £100,000 and £123,000 there is a marginal tax rate of 60% as the personal allowance is gradually withdrawn.

Note that dividend income is taxed differently, and for most people they will also have to pay National Insurance as well as personal tax.