Millions of workers set to have income tax slashed under govt changes

Written by Adam Cadle
06/04/2018

Millions of workers are set to have their income tax slashed under government changes that come into effect today.

The tax-free personal allowance will rise from £11,500 to £11,850, meaning that a typical basic-rate taxpayer will be about £70 richer a year.

In addition, the national living wage is rising by 4.4 per cent from £7.50 an hour to £7.83 an hour. For those aged below 25, they will still be paid the national minimum wage.

The state pension is also set to rise by 3 per cent, meaning an increase of £3.65 a week.

    Share Story:

Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

Newsletter

Subscribe to our newsletter to receive breaking news by email.




MoneyAge welcome
MoneyAge Editor Adam Cadle discusses the brand and what is on offer

World Markets (15 minute+ time delay)