Helping the jam go a little bit further

23 November 2016

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David Kilshaw, Private Client Services Partner at EY, comments on personal allowance:

“The Chancellor is clearly a man of his predecessor’s word. His planned changes to personal allowance will help the jam go a little bit further.

“His announcement that personal allowance will increase from £11,000 to £11,500 from April 2017, represents a £100 annual saving for basic rate tax payers and a £200 saving for higher rate taxpayers. In addition, the increase in the threshold at which higher rate tax is paid from £32,000 to £33,500 – represents a further saving for higher rate taxpayers of £300 per year.”