Budget 2018: Hammond to hike income tax relief a year early
UK deficit to reach lowest level in 20 years by 2023/24
Chancellor Philip Hammond announced today (29 October) that the income tax personal allowance and higher rate threshold will be increased in April 2019, bringing forward the Conservative's 2017 manifesto by a year.
Plans to increase the personal allowance to £12,500 and the higher rate to £50,000 by 2020 - announced in May 2017 - will now kick in next year, Hammond revealed in today's Budget. Currently, the personal...
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