Link all personal tax allowances, reliefs and thresholds with inflation

Index link all personal tax allowances, reliefs and thresholds with annual inflation to reduce the impact of increased salaries pushing individuals into paying more in tax, including income tax and inheritance tax. This includes tax reliefs such as car mileage that hasn't changed for over 12 years.

111 Signatures

Status
Open
Opened
Wednesday 15th November 2023
Last 24 hours signatures
1
Signature Deadline
Wednesday 15th May 2024
Estimated Final Signatures: 112

Reticulating Splines

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With the current system more and more working class individuals are now paying higher rate tax and have inheritance tax issues on death. These taxes were originally to tax the wealthy, but with wage increases, in reality, His Majesty's Government get more and more of private individual's income and wealth. By index linking the threshold and allowances with inflation, this will negate the tax impact of wage increases.


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Reticulating Splines