In the Budget, the Chancellor set out a package of temporary, timely and targeted measures to support public services, individuals and businesses through the economic disruption caused by COVID-19.
One of these measures was to offer the
As expected, it has been confirmed that the 2020-21 personal allowance will be maintained at £12,500 and the basic rate limit at £37,500. As a result, the higher rate threshold will also remain at £50,000 from April 2020. The basic
Savings income and dividends are taxed at the recipients' highest tax rate.
The relevant legislation in ITA07/S16 sets out the following rules.
If a person has savings income but no dividend income, the savings income is treated as the
If you are entitled to the marriage allowance and have not yet applied, you could receive a payment of up to £1,150 from HMRC. HMRC used the occasion of Valentine’s Day to remind couples to make a claim. It is estimated that whilst 1.78