PERSONAL ALLOWANCE is the term used for the portion of taxable income a person can earn at a zero percent Income Tax rate. The Personal Allowance will rise next month, ahead of a five-year freeze.
| UPDATED: 15:13, Thu, Mar 11, 2021
Link copied Make the most of your money by signing up to our newsletter for FREE now
SUBSCRIBE Invalid email
When you subscribe we will use the information you provide to send you these newsletters. Sometimes they ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time.
Not only will rates rise across both the National Minimum Wage (NMW) and the National Living Wage (NLW) but a change to the threshold for the latter rate will come into force.