UK Finance Act 2019 Receives Royal Assent

Following agreement by both Houses of Parliament, the UK Finance Act 2019 received Royal Assent (was enacted) on 12 February 2019. The legislation includes standard annual provisions, such as the charge to tax, the main rates of income tax, etc., as well as certain measures included in the Budget 2018. Particular measures of the Act include:

• An increase in the individual income tax personal allowance to GBP 12,500 with the basic rate limit increased to GBP 37,500 for 2019-20 and 2020-21, as …