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New Tax Campaign Launched to Increase HMRC Personal Allowance for All Pensioners
Supporters say freezing the allowance since 2021 could pull more workers into tax, while HM Treasury says the change would cost over £40 billion a year.
- A petition calling for the Personal Tax Allowance to rise to £18,000 has garnered 68,455 signatures, putting it more than 68% of the way toward the 100,000 threshold needed for consideration for debate in Parliament.
- Created by Mike Haynes, the campaign argues frozen thresholds cause fiscal drag, pulling more workers into income tax as the Personal Tax Allowance has remained at £12,570 since 2021.
- Chancellor of the Exchequer John Healey's department warned increasing the allowance would create a "significant fiscal cost" of more than £40 billion, while the Government stated the change would benefit higher earners more than basic-rate taxpayers.
- After the petition surpassed 10,000 signatures, the Government responded, noting it currently has no plans to increase the Personal Allowance, despite supporters arguing, "We want to keep some more of our own money."
- The campaign claims fiscal drag forces minimum wage earners to pay tax while some higher earners use accounting rules to reduce bills, as Treasury maintains tax receipts fund hospitals and schools.
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29 Articles
29 Articles
Stroud News & Journal+10 Reposted by 10 other sources
New tax campaign launched to increase HMRC personal allowance for all pensioners
A new petition is calling for a major tax boost for pensioners, with a higher personal allowance linked to the State Pension Triple Lock.
·Stroud, United Kingdom
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Telegraph & Argus+17 Reposted by 17 other sources
Thousands back bid to raise HMRC personal allowance to £18,000 as deadline looms
A petition calling for the Personal Tax Allowance to rise to £18,000 has attracted 68,455 signatures, but the September 30 deadline is approaching.
·Bradford, United Kingdom
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Total News Sources29
Leaning Left1Leaning Right0Center27Last UpdatedBias Distribution96% Center
Bias Distribution
- 96% of the sources are Center
96% Center
C 96%
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