Autumn Budget: Personal allowance to increase in 2018

Money

In today’s Autumn Budget Chancellor Philip Hammond announced the personal allowance will rise to £11,850 per year from April 2018.

The increase will mean a typical basic rate taxpayer will be £1,075 better off a year than in 2010, Hammond said.

The higher rate tax threshold will also be increased by to £46,350.

Hammond promised to raise the allowance in the Spring Budget, reiterating his intentions ahead of the June election.