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April Summary Update
A reminder that there are some changes on the horizon that could affect your finances, including to income tax, pensions, and ISA allowances. Most of the changes align with the tax-year, which is from 6th April 2021 – 5th April 2022.
Important Note
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Summary of key April financial events
A reminder that there are some changes on the horizon that could affect your finances, including to income tax, pensions, and ISA allowances. Most of the changes align with the tax-year, which is from 6th April 2021 – 5th April 2022.
- Income tax thresholds have risen for the coming tax year but will then be frozen until 2026. The personal tax allowance will rise from £12,500 to £12,570 and the higher rate threshold from £50,000 to £50,270
- The state pension will rise by 2.5% or £4.40 a week to £179.60 per week. Pension Credit is also increasing.
- The annual ISA allowance has been frozen at £20,000. The deadline for adding funds to an ISA is the 6th April each year in line with the tax year.
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