Increase announced to £11,000 from April 2017

The Chancellor raised the Income Tax Personal Allowance once more above the expected rate of inflation, with a further increase announced to £10,800 in 2016/17 and £11,000 in 2017/18. The personal allowance will have increased by almost 30% above the rate of inflation in this parliament. This will be welcome news for many and will take even more people out of the income tax system altogether.

Are your financial plans still on track after the 2015 budget?

There may have been a number of key announcements in Budget 2015 that will impact on your financial plans. If you would like to review your current situation to ensure that your plans are still on track, please call us on 028 2544 6120 or use the contact form by clicking here.

We have produced a simple fact sheet outlining the income tax personal allowance in the Budget 2015. If you haven’t already please subscribe to our newsletter to download the fact sheet pdf.

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