Tax free personal allowance to increase

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The tax free personal allowance will increase from April 6, 2018.

The increase will mean millions of people in the UK will be paying less tax as of next month.

The tax free personal allowance will rise from £11,500 to £11,850.

A typical taxpayer will be paying £1,075 less income tax than in 2010/11.

The threshold for higher rate tax will also increase to £46,350 from April (or £43,431 in Scotland).

For further information about this, or any other tax matter, contact Peter on 01244 343504.