Budget 2018 – Personal Changes

The Income Tax personal allowance will be increased to £12,500 from £11,850 on 6 April 2019. 

For higher rate taxpayers, the threshold above which higher earners start paying 40% tax is being increased to £50,000 from £46,350 in 2019-20.

The annual subscription limit for Junior ISAs and Child Trust Funds for 2019/20 will be increased in line with CPI to £4,368.

The Government has increased the limit of individual donations made under the Gift Aid small donations scheme from £20 to £30. 

The capital gains tax (CGT) annual exempt amount for individuals rises to £12,000 from £11,700 on 6 April 2019.