Autumn Budget 2017 – Income Tax Rates & Allowances
23 Nov, 2017
The Chancellor has confirmed that from 2018-19 the personal allowance will increase to £11,850 (an increase from the current £11,500) and the basic rate limit to £34,500. As a result, the higher rate threshold will increase to £46,350 from April 2018. These
increases are part of 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. The Scottish Parliament sets the basic rate limit for Scotland meaning that
Scottish higher rate taxpayers may pay more tax in 2018-19.