April is of course the month that heralds the new tax year. Along with the submission of year-ends and the distribution of P60’s there’s also new tax-free allowances.

All workers in Britain can now earn £5435 a year without paying any tax. And there’s good news for those aged 65 and over, whose tax-free allowance has gone up from £7280 to £9030.

There’s also a change in the number of tax bands in operation; out goes the 10 percent rate to be replaced by a lower basic rate of 20 percent, taxed at earnings between £5435 and £36,000. The top rate remains at 40 percent.

April is of course the month that heralds the new tax year. Along with the submission of year-ends and the distribution of P60’s there’s also new tax-free allowances.

All workers in Britain can now earn £5435 a year without paying any tax. And there’s good news for those aged 65 and over, whose tax-free allowance has gone up from £7280 to £9030.

There’s also a change in the number of tax bands in operation; out goes the 10 percent rate to be replaced by a lower basic rate of 20 percent, taxed at earnings between £5435 and £36,000. The top rate remains at 40 percent.

Ricky Steedman