personal allowance

I'm retired. If I earn over £1,000 in interest, will I have to pay income tax?

Tuesday, 08 May 2018 | Question and Answer

Back in April 2016, the Personal Savings Allowance was introduced, which allows savers to earn tax-free interest each year on their savings.

Personal allowance boost is Moneywise users’ top Autumn Budget announcement

Friday, 08 December 2017 | News

A rise in the tax-free personal allowance was the Autumn Budget announcement most users’ were pleased to see.

Autumn Budget 2017 predictions: Will the Chancellor take from the old to give to the young?

Thursday, 23 November 2017 | News

This Wednesday (22 November) Chancellor Philip Hammond will deliver the Budget amid calls for bold action on rebalancing opportunities for younger generations.

Ask the Experts: "Can I get a larger personal tax allowance because my spouse doesn't work?"

Monday, 11 September 2017 | Question and Answer

A personal tax allowance is just that, a personal allowance, and it cannot usually be transferred between spouses. However, there is an exception to this.

New £20,000 Isa allowance – flurry of increases on fixed-rate bonds

Tuesday, 08 August 2017 | News

New banks are behind a flurry of increases on fixed-rate bonds and easy-access accounts.

Income boosting tax breaks put on hold in run up to general election

Tuesday, 09 May 2017 | News

Two new income tax allowances that aim to simplify the tax affairs of so-called ‘micro-entrepreneurs’ have been put on hold in the run up to the general election.

The pension annual allowance: a beginner's guide

Monday, 08 May 2017 | Article

Senior public sector workers and high earners, particularly those in bonus or profit-sharing schemes, have something in common: both risk falling foul of an increasingly intricate web of pension rules.

Budget 2017: personal allowance to rise to £11,500

Wednesday, 08 March 2017 | News

Chancellor Phillip Hammond has reaffirmed the government’s plans to increase the personal tax allowance to £12,500 by the end of this Parliament in his Budget speech.

Tories to raise 40% tax and personal allowance thresholds

Wednesday, 01 October 2014 | News

The Conservatives will increase the personal tax allowance to £12,500 and up the 40% income tax threshold to £50,000 during the next Parliament – if they win the General Election in May.

Maximise your tax efficiency

Monday, 28 January 2013 | Article

Beware of high marginal tax rates

There are four main tax rates -