Tax Year 2018-19 and 10 Changes You Need To Know

Tax Year 2018-19 and 10 Changes You Need To Know

The UK tax year begins on 6 April 2018 and the start of the new tax year in UK brings a raft of tax changes that you simply can’t afford to ignore as they all come into force in the coming months. 1. National Living Wage will increase The National Living Wage for those aged 25 and over will increase from £7.50 per hour to £7.83 per hour from April 2018. 2. Tax-free personal allowance will rise The personal allowance – the amount you earn before you start paying income tax – will rise from £11,500 to £11,850 from April 2018. 3. Income Tax bands of taxable income will rise […]