12 December 2023
The overview of tax legislation and rates (OOTLAR) was released with the autumn statement in November. But on document included is “Annex A – rates and allowances”.
This document is a cheat sheet to all the new rates and allowances concerning tax legislation for the next tax year, as it currently stands. In it we have confirmation of some of the following allowances:
|
Item |
2023-24 |
2024-25 |
|
Income limit for Married Couple’s Allowance |
£34,600 |
£37,000 |
|
Marriage Allowance |
£1,260 |
£1,260 |
|
Maximum amount of Married Couple’s Allowance |
£10,375 |
£11,080 |
|
Minimum amount of Married Couple’s Allowance |
£4,010 |
£4,280 |
|
Blind Person’s Allowance |
£2,870 |
£3,070 |
Also confirmed are the company car tax rates, National Insurance (NI) Changes and a raft of information regarding other taxes, most of which won’t concern payroll professionals, unless you are curious.
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