April 2019 New Tax Allowances

Feb 21, 2019 | HMRC, Tax

From April 2019 the individual tax free personal allowance will be rising to £12,500 with the basic rate of tax allowance rising to £37,500. This means that everybody can earn up to £50,000 for 2019/20 before they begin to pay the higher rate of tax.

Other posts you might like:

The latest news from PMC Partnership incorporating Pomfreys Accountants – 8th August 2025

Regarding electric vehicles & tax allowances, if used for business, both self employed and Limited company businesses benefit from 100% first year capital allowances to help with their tax liability. This reduces to 18% of the cost price per year for used electric vehicles. Also you can claim 100% of the VAT for electric cars if used solely for business, when usually this is restricted to 50% for non electric cars.

read more