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31 October 2018

PERSONAL ALLOWANCE & HIGHER RATE THRESHOLD TO RISE FROM APRIL 2019

The Chancellor confirmed that the government’s target of reaching a tax-free Personal Allowance of £12,500 and a higher rate tax threshold of £50,000 by 2020 will be met one year early, with those amounts being introduced from April 2019. This is a welcome boost to the current Personal Allowance of £11,850 and higher rate tax threshold of £46,350.

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