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The Chancellor announced a bringing forward of the planned increases in the personal allowance and the higher rate threshold for income tax.
A starting rate for savings band of £5,000 at 0% may be available unless taxable non-savings income exceeds the starting rate band.
Rates and bands for 2019/20 will be announced in the Scottish Budget.
From 6 April 2019, the UK government will reduce the basic, higher and additional rates of income tax paid by Welsh taxpayers by 10%, and three Welsh rates of income tax will then be added to the reduced UK rates. The Welsh government proposes to set the first Welsh rates at 10%.
Individuals can invest in any combination of cash or stocks and shares up to the overall annual ISA subscription limit. However, a saver may only pay into a maximum of one Cash ISA, one Stocks and Shares ISA, one Innovative Finance ISA and one Lifetime ISA. The overall investment limit for 2019/20 is £20,000 (£4,368 for junior accounts).
18 Mar 2024
The Institute of Chartered Accountants in England and Wales (ICAEW) has stated that new guidance from HMRC on research and development (R&D) tax relief guidance 'could be clearer'.
15 Mar 2024
HMRC is urging working parents to make use of its Tax-Free Childcare (TFC) scheme to help save on Easter childcare costs.
14 Mar 2024
New measures aim to 'break the spell' of financial fraudsters by giving payment providers more time, according to draft legislation published by the government.
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