Personal tax changes - allowance and basic rate band increases

At the Budget, the Chancellor announced that increases to the personal allowance and basic rate band for 2019/20.

Nottingham: 0115 9621590 - Newark: 01636 702100

At the Budget, the Chancellor announced that increases to the personal allowance and basic rate band for 2019/20.

The personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500. Also for 2019/20, the basic rate band will be increased to £37,500 so that the threshold at which the 40% band applies is £50,000 for those who are entitled to the full personal allowance. The additional rate of tax of 45% will remain payable on taxable income above £150,000.

The government had pledged to raise the thresholds to these levels by 2020/21.

Internet link: GOV.UK income tax

About Hobsons

Hobsons was established in 1927 and today, we continue to build on our enviable reputation for providing excellent advice and first class service to our business and personal clients alike. We have many clients in the local community and service businesses, small and large, across many sectors.

Learn more

Nottingham Office

Please call:
0115 9621590

Hobsons, Alexandra House, 43 Alexandra Street, Nottingham, Nottinghamshire NG5 1AY
Newark Office

Please call:
01636 702100

Hobsons, International House, Brunel Drive, Newark, Nottinghamshire NG24 2EG

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

© 2019 Hobsons. All rights reserved. powered by totalSOLUTION
Hobsons is the trading name of Hobsons CA Ltd. Registered in England & Wales Company Registration No. 08765832

We use cookies on this website, you can find more information about cookies here.