Personal allowance rise

British money stacked up in piles. Credit: Dominic Lipinski/PA Wire/Press Association Images

The personal allowance for income tax rises today from £8,105 to £9,440. In addition, there's good news for high earners as the 50p tax rate falls to 45p on salaries over £150,000.

Basic state pensions will increase by £2.70 per week. However, pensioner's income tax allowances have been frozen at 2012 levels, but restricted to people already claiming their pension.