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Chancellor, Phillip Hammond announces new tax-free threshold

30 views · Published 30 October 2018 · 3:20 · Indexed 7 October 2026

Channel: Daily Mail World · 2018 · News & Politics

Philip Hammond dramatically announced that the basic and higher thresholds are to go up faster than expected as he delivered what could be his last pre-Brexit Budget. From next April, people will be able earn £12,500 a year tax-free, and the 40 per cent rate will not start until they earn more than £50,000. The move - which had not been slated to happen until 2020 - means basic rate taxpayers will be £130 a year better off. A far bigger saving will arrive for those earning £50,000, who will keep an extra £860 compared to their current income tax bill.

Original Article: http://www.dailymail.co.uk/news/article-6330137/Budget-lifts-tax-free-threshold-12-500-40-tax-50k-April.html
Original Video: http://www.dailymail.co.uk/video/news/video-1792466/Video-Chancellor-announces-raising-personal-allowances-higher-rate.html

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Chancellor, Phillip Hammond announces new tax-free threshold

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