What is the personal tax allowance for 2016-17?

£11,000
Personal Allowances This personal allowance is £11,000, an increase of £400 from 2015-16. The income limit for personal allowance remains at £100,000. The marriage allowance has increased £40 from £1,060 to £1,100.

What was tax allowance for 2017?

The government has an objective to raise the personal allowance to £12,500 and the higher rate threshold to £50,000 by the end of this parliament. This measure will increase the personal allowance for 2017 to 2018 to £11,500, and the basic rate limit will be increased to £33,500 for 2017 to 2018.

What is the current tax allowance 2020?

The standard personal tax allowance amount is £12,500 for 2019/2020. Any income you earn after that will be taxable. The amount of tax you pay after your personal allowance is dependent on how much you earn during a tax year.

What is the basic tax rate for 2016 / 17?

In 2016/17, the personal allowance will increase to £11,000. The basic rate of income tax currently stands at 20%. The band of income taxable at this rate is £31,785, meaning that the threshold at which the 40% band applies is £42,385 for those who are entitled to the full basic personal allowance.

What are the personal tax bands for 2016 / 17?

Personal allowances and tax bands for 2016/17 2016/17 2015/16 2015/16 2015/16 Band £ Rate % Band £ Rate % 0 – 5,000 0* 0 – 5,000 0* 0 – 32,000 20** 0 – 31,785 20** 32,001 – 150,000 40♦ 31,786 – 150,000 40♦

Is the tax rate going up in 2017?

An increase in the Higher Rate Threshold had been expected for 2017, but it has actually increased more than predicted. From April 2017 it will be £45,000. For the coming 2016/17 financial year it will be £43,000. * An annual transferable allowance between spouses of £1,060 was introduced for 2015/16 tax year.