Hammond delivers pre-Brexit Budget for a ‘brighter future’ Chancellor Philip Hammond delivered his second Autumn budget exactly five months before Britain is due to leave the European Union.
In a bullish mood the Chancellor asserted that the era of austerity is ‘finally coming to an end’ after a ‘long, hard journey. In his statement, the Chancellor outlined how individual tax payers are set to benefit from a bringing forward of the planned increase in tax personal allowance, which will rise by a further £650 in April 2019 to £12,500. The higher rate threshold will also increase from £46,350 to £50,000. However, from 2021, both thresholds will rise in line with CPI inflation. The tables on the right give an overview of the key personal tax changes to come out of the Chancellor’s budget:
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