2019 Budget Announcements

National Insurance Contribution Rates

In July, the threshold at which workers start paying National Insurance contributions (NICs) was raised from £9,880 to £12,570,

Additional Rate Threshold

The government will decrease the additional rate threshold from £150,000 to £125,140 from 6 April 2023. The government is also fixing other personal tax thresholds within income tax, NICs and Inheritance Tax for an additional 2 years, until April 2028.

Dividend Allowance

Will be reduced in generosity.

Capital Gains Tax Annual Exempt Amount

Will also be reduced.

The Personal Allowance

Will generally be available in addition to the reduced Dividend Allowance and Capital Gains Tax Annual Exempt Amount.

Tax Evasion

The government’s action to repair the public finances will be supported by a package of measures to tackle tax avoidance, evasion, and wider non-compliance. This will raise an estimated £1.7 billion over the next 5 years.