Sorry. You need to upgrade your browser

You are using Internet Explorer 8

This is considered an out of date browser. This website has been developed with modern browsers in mind to allow it to display at its best in a wide variety of viewing situations - including mobile viewing. But we haven't supported older browsers like IE8. Please upgrade to the latest version of Internet Explorer - or try Mozilla Firefox or Google Chrome. Both are excellent browsers.

Thank you.

Chartered Certified Accountants
and Business Advisors

01530 267320

Tax rate and allowances

The personal tax allowance will increase to £11,850 from the new tax year. Therefore, the emergency tax code will be 1185L/1 (the 1 indicating that it is non-cumulative). There is no change to the income limit which is set at £100,000 your personal allowance reduces by £1 for every £2 of income over this limit. The higher rate threshold, the point at which 40% tax kicks in, is £46,350 but this only applies in England, Wales and Northern Ireland. Please see our other article for changes to income tax for Scotland.

Eligible taxpayers across the Uk can transfer 10% of the year’s personal allowance to their partner so they can maximise their tax-free income if the other party in the household does not earn enough to utilise their full tax free personal allowance. The taxpayer receiving the additional personal allowance must still pay be a basic rate taxpayer.

14 Feb 2018

« Back to latest news

Latest news

Staging is Complete

Auto-enrolment staging is now completed from February 2018. Since October 2017 an overlap with new employers having imme...

Click to read more >

Alignment of the tax and NI treatment for termination payments in excess of 30k has been delayed

Changes were due to take effect from 6 April 2018 including the following: Tightening of rules that exempt paym...

Click to read more >

Landlords can claim mileage allowances

Landlords received a small boost in the Autumn Budget. The Chancellor agreed they could use the HMRC’s approved mileag...

Click to read more >

Student Loans

To highlight the number of student loan repayers who overpay their loan when the balance has been paid off, the Student ...

Click to read more >

National Minimum Wage

The rates from the first pay day on, or after 1st April 2018are, per hour: 25 and over ...

Click to read more >


The contributions into workplace pensions will rise to a 2% employer minimum and 5% total. They are currently 1% and 2% ...

Click to read more >

Another year of the flat rate National Insurance

From 6 April 2018, the flat rate Class 2 national insurance contributions for the self-employed was due to be scrapped; ...

Click to read more >

How can we help?




Sence are approachable and happy to take my call, they listen to me, and my concerns no matter how small.

Jacqui Williams
Tip Top Hair Design

Click to read the full testimonial >