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Guide to Budget Tax Rates and Allowances 2018

Pound Coin on Union Jack

   2017/18    2018/19    2019/20    £    £    £ Income tax rates not including Scotland – (non-dividend income) As announced or unchanged 0% – starting rate for savings only – note 1    Up to 5,000 Up to 5,000 Up to 5,000 20% basic rate tax    11,501 – 45,000 11,851 – 46,350 12,501…

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A Simple Guide to the Budget 2018

Chancellor of the Exchequer Budget 2018

This is a basic guide, prepared by ACCA’s Technical Advisory team, for members and their colleagues or clients. It is an introduction only and should not be used as a definitive guide, since individual circumstances may vary. Specific advice should be obtained, where necessary. The message from the Chancellor was that ‘this is a budget…

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Rise in pension savings for under-30s

Jar of coins

According to research carried out by Scottish Widows, almost two-fifths of workers under the age of 30 are now saving adequately for retirement. The report measures the number of people putting more than 12% of their income towards their pension, which Scottish Widows recommend as a minimum for adequate savings. For individuals aged between 22…

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