Income Tax Personal Allowances- 2016/17

Income Tax Personal Allowances- 2016/17

The personal allowances from 6 April 2016 are as follows.

From 6 April 2016:                                 £11,000 regardless of age.

Higher rate tax threshold:                       £43,000

 

Income tax

 

Note: The income limit for the Personal Allowance will stand at £100,000; however, the individual’s personal allowance is reduced where their income is above this limit. The allowance is reduced by £1 for every £2 above the limit.

It is important to make sure that you take full advantage of your tax allowances if appropriate to do so. The personal income tax allowance is given to every individual from birth and it is an automatic allowance, meaning that you do not have to claim for this.

MEITPAHT/120416

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