Autumn Statement 2016 – Income Tax Allowances & Rates

November 29th, 2016

  2016/17£ 2017/18£
Personal (basic) 11,000 11,500
Personal reduced by £1 for every £2 of net income over 100,000 100,000
Married couples’ / civil partners’ transferable allowance 1,100 1,150
Married couples’ / civil partners’ allowance at 10%   – maximum 1
(if at least one born before 6/4/35)                                –minimum 1
8,355 8,445
3,220 3,260
Blind person’s allowance 2,290 2,320
Registered pension scheme:·         Annual allowance 2

·         Money purchase annual allowance

·         Lifetime allowance

£40,000

£10,000

£1,000,000

£40,000

£4,000

£1,000,000

 

Notes

1 Reduced by £1 for every £2 of income over £28,000(2017/18) or £27,700 (2016/17), until basic reached. 

2Subject to 50% taper down to £10,000 if threshold income over £110,000 and adjusted income over £150,000.