Tax Changes 2016-17

Are you aware of the changes to Tax 2016-17

Below is a summary covering all of the major tax changes being implemented for Tax year 2016-17.

Increase in tax-free personal allowance

Increase in the 40p tax threshold

Improvement in the marriage allowance

Change in wear and tear allowance

New national living wage of £7.20

Increase in national minimum wage

Launch of Personal savings allowance

New Innovative Finance Isa arrives

Basic state pension increased

Lifetime allowance decreased

Ending National insurance ‘contracting out’

Contact HMRC for advice on Self Assessment, Tax, allowance, Child Benefit, tax credits, National Insurance and other related enquires.

If you are looking for advice in a particular area, please get in touch with DNS Accountants. DNS Accountants is a leading Accountancy firm in UK offer accountancy services to many regions including London, Harrow, Bromley, Redruth, Birmingham, Manchester, Haslemere, Cambridge, Guildford, Wigan, Hull, Bristol, Bath, Wirral, Milton Keynes, Liverpool and Norwich etc.

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