Tax changes coming into effect on 6th April

There are tax changes set to come into effect in April, including an increase in the amount of money a person can earn before they start paying income tax.

The personal allowance, currently at £11,850, rises to £12,500 as of April 6. The threshold for people paying a higher tax bracket will change from £46,350 to £50,000, while the annual exemption on capital gains tax will increase from £11,700 to £12,000.

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