New tax changes coming into effect this week mean your take home salary should increase

The current tax year comes to an end this week and with new rules coming into effect, an increased personal allowance should see workers’ take-home pay go up.

The personal allowance is the amount of income a worker is not required to pay tax on.

Following an announcement in last year’s Autumn Budget, the personal allowance for earners in the basic rate band (those on salaries between £11,501 and £45,000) will rise to £11,850 on Friday 6 April. The threshold to be included in the higher rate band – currently those on salaries from £45,001 to £105,000 – will increase to £46,350.

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