Autumn Budget 2018 - Personal allowance and income tax threshold


The personal allowance for 2019/20 is set at £12,500 (£11,850 in 2018/19)

The basic rate limit will be increased to £37,500 (£34,500 in 2018-19).

As a result, the higher rate threshold will be £50,000 in 2019/20.

The additional rate threshold will remain more... £150,000 in 2019/20.

From 2021/22 onwards, the Personal Allowance and basic rate limit will be indexed with the Consumer Price Index (CPI). Changes to the basic rate limit, and higher rate threshold, will apply to non-savings, non-dividend income in England, Wales and Northern Ireland, and to savings and dividend income in the UK.

The marriage allowance will rise from £1,190 in 2018/19 to £1,250 in 2019/20.

Blind person's allowance will rise from £2,390 in 2018/19 to £2,450 in 2019/20.

Added By: Sue Taylor on 01st Nov 2018 - 12:52
Last Updated: 01st Nov 2018 - 20:34

Number of Views: 488
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