HMRC rule that means tax-free Personal Allowance will rise to £20,070

Inflatie

The tax -free Personal Allowance has found itself back in the spotlight lately, after yet another freeze on the threshold that's remained unchanged since 2021. The Government has pushed through an extension to the freeze on income tax bands for another three lengthy years and alongside it, the sum you can pocket without paying any tax will stay locked at the same figure throughout that period, despite inflation and rising wages forcing greater numbers of workers into higher earnings brackets

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