March 16th, 2018.

From April 2018 the personal allowance – the amount a worker can earn before paying income tax - will increase to £11,850 from its current level of £11,500. The higher rate tax threshold will also be increased to £46,350 from the current £45,001.

In a boost for lower-paid workers, the national living wage – the legal minimum wage for over 25s - will be set at £7.83 per hour from next month. This is higher than the current £7.50 national living wage and is expected to deliver a wage increase for two million people. Additionally, 21- to 24-year-olds will see the minimum wage increased to £7.38 per hour, 18- to 20-year-olds will receive a 30p boost to £5.90 per hour and for 16- and 17-year-olds, the minimum will rise by 15p to £4.20 per hour. The minimum wage for apprentices will increase by 20p to £3.70 per hour.

for more on the latest minimum wage rates.