Happy new tax year!
The arrival of the new tax year means some big changes to the nation's personal finances, most notably the introduction of the 50% income tax band for top earners. The BBC have pulled together the changes in a neat table which I have included below. If you want to read the full article then click here.
| Area covered | Changes | Detail | |
| Basic state pension | Up £2.40 a week | The weekly pension will go up to £97.65, for a pensioner couple it be £156.15 | |
| National Insurance contributions | Only 30 years needed | The qualifying years of NI payments for the basic state pension has dropped by nine years | |
| Occupational pensions | Five year delay claiming | People now have to be 55 to receive occupational or personal pension payments | |
| Top tax band | 50% rate introduced | New tax rate for those earning over £150,000 a year | |
| Tax allowance | High earner tax allowance withdrawn | Those earning over £100,000 will see the progressive withdrawal of their personal income tax allowance | |
| Isa limit | New limit of £10,200 | The tax-free allowance limit on Isas rises | |
| Paternity leave | Up to 26 weeks | Additional paternity leave available by transferring leave from the mother | |
| Maternity pay | Up to £124.88 a week | The statutory maternity, paternity and adoption pay rises |
