What does the new tax year mean for you?

Personal allowance increases

The amount of money you can earn before paying the basic rate of income tax of 20% has increased from £12,500 to £12,570. This is known as the personal allowance. It may be bigger if you claim Marriage Allowance or Blind Person’s Allowance. And it’s smaller if you earn over £100,000.

The starting point for paying the higher 40% tax rate is now £50,271 – up from £50,001. However, the threshold at which you start paying the third and highest rate of income tax of 45% – the additional rate – remains the same and applies to taxable income over £150,000.

In February 2015, ULS Technology plc (LON:ULS) took a 35% share in HomeOwners Alliance, a website offering information and services to UK homeowners and prospective homeowners. Gresham House Strategic PLC (LON:GHS) has a 6.56% stake in ULS Technology.

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