30 October 2024
During the Budget it was confirmed that the existing freeze on income tax and National Insurance thresholds introduced by the previous government in 2021, will remain in place until April 2028. However, the freeze will not be extended, despite the allure of increased tax revenue, meaning from 2028/29 the thresholds will be uprated in line with inflation as they have done historically.
The so called “stealth tax” has meant that for the last three tax years, more workers have paid more tax as their salaries increase and thresholds stay the same.
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