2018/19 tax changes – an update

Now we are in the middle of tax year 18/19, it is a good time to remind you of the major tax changes for this year affecting all our clients. The tax free allowance for everyone has increased from £11,500 to £11,850. The tax free dividend allowance has reduced from £5,000 to £2,000. The self employed Nation Insurance threshold has risen from £6025 to £6205, with weekly contributions rising from £2.85 to £2.95. Finally the Capital Gains Tax Allowance has increased from £11,300 to £11,700.