Archive: Personal Allowance
Opinion Former Articles
The personal allowance increase announced in the budget is welcome, but it's time the government looked at increasing the National Insurance primary threshold, the CIOT has said in a statement released today.
Savers on low incomes are eligible for extra tax relief from this April. The Government has announced that there will be no tax on savings income of up to £5,000 above the personal allowance.
Commenting on the Chancellor’s announcement of a further increase in the income tax personal allowance, Robin Williamson, Technical Director of the Low Incomes Tax Reform Group (LITRG), said:
Personal allowance increase welcome for higher earners but of no benefit to those on the lowest incomes
The Chancellor has announced today in the Budget that having gone up to £11,000 in the tax year beginning 6 April 2016, the personal allowance will rise again to £11,500 in 2017/18.