UK Budget July 2015 – The main points for expats
Income Tax
The Personal Allowance threshold will increase from £10,600 in the current tax year
to £11,000 from April 2016. The plan had been to increase it to £10,800 in 2016 and £11,000 in 2017-18. The Government has pledged to increase it to £12,500 by 2020.
The Personal Allowance is steadily removed once someone has UK annual income over £100,000. The threshold for higher rate tax (40%) will also rise in 2016, from £42,385 to £43,000.
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to £11,000 from April 2016. The plan had been to increase it to £10,800 in 2016 and £11,000 in 2017-18. The Government has pledged to increase it to £12,500 by 2020.
