Changes to income tax thresholds and rates come into force
Implementation date: 6 April 2013
The income tax personal allowance increases from £8,105 to £9,440. The basic rate limit decreases from £34,370 to £32,010. The additional rate of income tax is reduced from 50% to 45%. These changes were announced in Budget 2012 (PDF format, 706K), which can be viewed on the HM Treasury website.