After the Conservatives recent victory in the General Election, we thought we would share some of the financial changes this will bring … Firstly, it is expected that the personal allowance will raise from £10,600 to £12,500 over their term. This means that employees can earn up to 12.5k tax free Are you a higher rate tax payer? If so, you will be pleased to know that the conservatives plan to raise the 40% tax bracket to £50,000 from £42,386 per year They have pledged to not raise income tax or VAT for the next five years The party have vowed to raise the national minimum wage to approximately £8 per hour for over 21’s Are you a working parent? The conservatives plan to double to the amount