2019/20 Tax Changes

2019/20 Tax Changes

Personal allowance and higher rate threshold

The personal allowance increases to £12,500 from £11,850.
This will lead to a reduction in tax of £130 a year for most people.
The threshold for paying the higher rate of income tax (which is 40%) will increase to £50,000 from £46,350.

Full details of the Tax Changes for this year.