Varbes logo
Blog Intro Image
News

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.

Published March 2021

Blog Intro Image
Important Note

Our website offers information about investing and saving, but not personal advice. If you're not sure which investments are right for you, please speak to a qualified financial adviser.

The value of investments, and the income from them, can go down as well as up, so you may get back less than you invest.

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.

ADVERTISEMENT