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Personal tax allowance frozen until 2028.

whattochoose
Posts: 728 Forumite


in Cutting tax
For some reason I'd convinced myself that the personal allowance tax threshold of £12500 had been frozen until 2026.
To my dismay, I see I was wrong and the tax threshold of £12500 is actually in place until 2028!
For the next tax year, this freezing of PA's, and the 10.1% increase in the State Pension will ensure my tax liability is noticeably increased elsewhere, in terms of my personal circumstances.
I wonder if, as a pre-election sweetener, the Government might shorten the time before personal allowances are increased?
To my dismay, I see I was wrong and the tax threshold of £12500 is actually in place until 2028!
For the next tax year, this freezing of PA's, and the 10.1% increase in the State Pension will ensure my tax liability is noticeably increased elsewhere, in terms of my personal circumstances.
I wonder if, as a pre-election sweetener, the Government might shorten the time before personal allowances are increased?
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Comments
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the increase until 2027/28 was only made in November 22 budget.0
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This was announced on November - frozen at 12570. State pension increase good though!0
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yes pension rise was good but overall tax will be higher £184 in 22/23 up to £410 23/24.
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whattochoose said:I wonder if, as a pre-election sweetener, the Government might shorten the time before personal allowances are increased?0
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