By Kevin Peachey
Personal finance reporter, BBC News
The new tax year has started and that means some big changes for your personal finances.
Some high earners face the much-debated top
income tax band of 50%,
but there are more rights for parents of newborns - although this may be for those becoming parents from 2011 - and
key changes for pensioners.
Savers will now be able to put more money away in
Individual Savings Accounts
In addition, Child Tax Credit has increased by £20.
And in business, the lifetime limit on Capital Gains Tax entrepreneurs relief has increased from £1m to £2m.
Basic state pension
Up £2.40 a week
The weekly pension will go up to £97.65, for a pensioner couple it be £156.15
National Insurance contributions
Only 30 years needed
The qualifying years of NI payments for the basic state pension has dropped by nine years
Five year delay claiming
People now have to be 55 to receive occupational or personal pension payments
Top tax band
50% rate introduced
New tax rate for those earning over £150,000 a year
High earner tax allowance withdrawn
Those earning over £100,000 will see the progressive withdrawal of their personal income tax allowance
New limit of £10,200
The tax-free allowance limit on Isas rises
Up to 26 weeks
Additional paternity leave available by transferring leave from the mother
Up to £124.88 a week
The statutory maternity, paternity and adoption pay rises
Some changes have already come into force - including
costs for motorists
buying and running a car. These changes came in on 1 April.
More changes are to come. In October, the national minimum wage will increase. For those aged 21 and over, it will rise from £5.80 an hour to £5.93 an hour.
For workers aged 18 to 20, it will rise from £4.83 an hour to £4.92, and for those aged 16 and 17, it will rise from £3.57 an hour to £3.64.
Although the changes to paternity leave are now in law, it only applies to parents of children born on or after 3 April 2011.
Websites such at the Financial Services Authority's
Money made clear
HM Revenue and Customs (HMRC)
have more details and forms about the changes.
Yet there is a warning to those who are hoping to duck out of paying tax. From now, HMRC is planning to name and shame anyone who dodges £25,000 of tax.