Autumn Statement 2016 – Income Tax Rates & Allowances

The Chancellor, Philip Hammond has confirmed the government’s commitment to increase the basic personal allowance to £12,500 and the higher rate threshold to £50,000 by the end of the current Parliament in 2020.

As previously announced, from April 2017 the basic personal allowance will increase to £11,500 and the basic rate limit to £33,500. As a result the higher rate threshold will increase to £45,000 from April 2017.

Once the £12,500 limit has been reached, the personal allowance will rise automatically during the 2020s in line with inflation, rather than the National Minimum Wage as was currently planned.

Providing the direction that leads to growth.

"We've always found them to be professional, accurate and a pleasure to deal with. "
NA Printers