Mini-budget decisions: application date?
in Benefits & tax credits
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There are rumors that Friday's mini-budget announcement will include changes to income tax thresholds. If so, I wonder if it'll be applicable on incomes earned on past tax years which I am due to return? Regardless, when the mini-budget decisions will be applied?
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The mini-budget can only change the present and the future.
Changes to income tax thresholds will not be applicable to previous tax years.
Any changes will apply in April to 2023/24 tax year at the earliest.