The (This link will open in a new window)new tax year brings a rise in earnings before income tax is due, up from £11,500 to £11,850, for up to £70 extra net income.
If you're married or in a civil partnership and one of you earns under £11,850 and the other is within the basic rate band, you may be able to transfer up to £1,185 of your personal tax allowance to your partner, saving them up to £238 in income tax.
If you are a basic rate taxpayer, income between £11,850 and £46,350 is taxed at 20%. Higher rate taxpayers pay 40% income tax on earnings between £46,351 and £150,000 and additional rate taxpayers pay 45% on any income above £150,000. Higher rate and additional rate taxpayers have their personal allowance reduced by £1 for every £2 of net adjusted earnings above £100,000. This means their personal allowance is zero if their income is £123,700 or above.
The tax rates and bands are slightly different in (This link will open in a new window)Scotland.