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The Chancellor announced a bringing forward of the planned increases in the personal allowance and the higher rate threshold for income tax.
A starting rate for savings band of £5,000 at 0% may be available unless taxable non-savings income exceeds the starting rate band.
Rates and bands for 2019/20 will be announced in the Scottish Budget.
From 6 April 2019, the UK government will reduce the basic, higher and additional rates of income tax paid by Welsh taxpayers by 10%, and three Welsh rates of income tax will then be added to the reduced UK rates. The Welsh government proposes to set the first Welsh rates at 10%.
Individuals can invest in any combination of cash or stocks and shares up to the overall annual ISA subscription limit. However, a saver may only pay into a maximum of one Cash ISA, one Stocks and Shares ISA, one Innovative Finance ISA and one Lifetime ISA. The overall investment limit for 2019/20 is £20,000 (£4,368 for junior accounts).
26 Apr 2024
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.
25 Apr 2024
Figures have shown that UK borrowing over the last financial year was £7.6 billion lower when compared to the year before.
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Our summary of the key announcements from the Chancellor's latest Budget .
Read about the budget