Changes to tax rates and thresholds come into force
Implementation date: 6 April 2014
The Chancellor of the Exchequer announced in Budget 2013 an increase in the income tax personal allowance to £10,000. Tax and credit rates and thresholds for 2014/15 provides the other rates and thresholds for 2014/15. The basic rate limit for income tax increases from £32,010 to £31,865, and the national insurance contributions threshold increases from £109 per week to £111 per week.