Steven Cameron: Four personal finance changes taking effect tomorrow

AE, LTA and more

clock • 5 min read

The new tax year begins tomorrow and, with it, come a quartet of important changes to clients' personal finances. Steven Cameron takes a closer look

Auto-enrolment minimum contributions rise What's the change? Since its introduction in 2012, more than 10 million people have been automatically enrolled into a workplace pension. On launch, the total minimum contribution level was set at 2%, remaining at this level until April 2018 when it increased to 5%. From 6 April, this will rise further to a level of 8% of earnings between £6,136 and £50,000, incorporating a 3% employer contribution, a 4% employee contribution, and government tax relief topping this up by 1%. The earnings trigger for automatic enrolment remains at £10,000 for 2019/...

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