New tax year: Higher rates for some but benefit rises may ease hit
Frozen thresholds add to the personal income tax burden but the state pension and benefits will rise within days. …
The tax-free limit for pension savings during a lifetime has now been abolished. The annual allowance has gone up from £40,000 to £60,000, after being frozen for nine years. Those who are already drawing a pension, but want to save more can now put in £10,000 a year, up from £4,000.
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