Back to glossaryGlossary term
Personal Allowance
The amount you can earn each year before paying income tax, currently £12,570. It reduces once income passes £100,000 and disappears entirely at £125,140.
Figures are UK rates and change each April. Source: GOV.UK — Income Tax rates and Personal Allowances
Still not sure what this means for you?
Ask Helena, our AI assistant. She gives general information, not financial advice.