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alansday

  1 month ago

Degradation of the personal tax allowance

Most people in the UK receive a yearly personal tax allowance of £12570. This allowance has only increased by a mere £70 over the past 4 years when it stood at £12500 an increase of 0.56% over that time period.

Core inflation has run at 3% on average for the first 3 years with this year looking set to break 10%. Given this you'd think the personal tax allowance should now be at least £14455, a very modest 15% increase over those years , but no we have complete stagnation of the allowance meaning everyone is paying around £360 more in tax than should otherwise be the case.

This government talk about low taxation but in reality the UK is now being taxed at a higher rate when taking all forms of tax into consideration than at any time since the II world war !

Do you think the personal tax allowance is being overlooked at the moment ?
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Chris563

  1 month ago
That is typical for the public. Reply
0 comments

Brucie

  1 month ago
Well - watch this space. The Chancellor has just resigned! Who knows what will happen next. Reply
0 comments

mumsutty

  1 month ago
yes definiitely Reply
1 comments

Treasure585

  1 month ago
It's not a realistic figure is it Alan? It definitely needs stepping up to say £15K then maybe £17K if and when people (and the country) get back on their feet. I'll be paying regardless but for low to medium earners in the country they need some decent incentives to keep them bouyant i'd have thought. There's a definite air of dispondency out there! Reply
3 comments

spartan3002

  1 month ago
You don't think this is accidental , do you Alan ? If so , I've got a bridge to sell you lol ! Reply
1 comments

rosemary-charles

  1 month ago
Im surprised they dont tax the air we breath OH!!! wait a minute they do (clean air zone) could be deamed as taxing the air we breath couldnt it? Reply
1 comments

Millburn

  1 month ago
Another way for Boris and his cronies to hide the unpopular stuff they are doing ...... Reply
1 comments

bickler1

  1 month ago
It should never be less than the "living wage" whatever that might be nowadays for a 37.5 hour week,how pointless to tax someone on these minimum wage levels. Reply
2 comments

Mark_W

  1 month ago
Sadly we have to pay back all the money spent/wasted during the pandemic and to pay for the Brexit mess! Reply
2 comments

joruth

  1 month ago
What I can’t believe is how much it’s risen over the last 15 years.
Not quite answering the question, I know.
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1 comments
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