Kirkpatrick & Hopes - Succession Planning Accountants

Call us on: 0118 923 5800
Email us: mail@kirkpatrickandhopes.com

Budget 2016: The proposals in detail – personal allowances

The basic personal allowance for 2016/17 will be £11,000.

The Budget announced that this will increase to £11,500 for 2017/18.

Remember that if your adjusted net income exceeds £100,000 the personal allowance is reduced by £1 for every £2 over £100,000 giving an effective rate of 60% on income between £100,000 and £122,000 for 2016/17.

Contact us for advice on planning to avoid this 60% rate.

Andy Scott

Leave a Reply