I don’t want you to get too excited but it is budget day tomorrow…..
Author: Russell SmithJuly 7, 2015
Yes – it is budget day tomorrow!
I am very excited (it is my favourite day).
There could be some big changes to the amount of tax that you pay.
The personal allowance (the amount that you earn with zero tax) could go up to £12,500.
The basic rate (the amount that you earn before you pay 40% tax) could be extended (some say to £50,000).
The top rate of tax of 45% could go down to 40% (although this does seem unlikely).
The budget is 12.30pm tomorrow, I will be tweeting and blogging on the changes that affect you.