The big freeze – effects of the personal allowance steady state
The personal allowance has been frozen at its current amount of £12,570 since the tax year 2021/22. We take a look at what this policy means for those with lower incomes.
The personal allowance has been frozen at its current amount of £12,570 since the tax year 2021/22. We take a look at what this policy means for those with lower incomes.
Taxes are an integral part of our lives; most of us pay tax, whether income tax, council tax or VAT on things we buy. Taxes also play an important role in shaping the infrastructure of our society. Yet, there is sometimes a lack of understanding and awareness of taxes and how the tax system works ...
Readers have been contacting us as they aren’t sure whether they need to tell HMRC about income that they have received gross (without tax taken off before they get it). Unfortunately, there is no easy answer as there are different sets of criteria you need to consider. Also, the law and HMRC ...
Various attempts are being made by the governments in Scotland and Wales to make council tax ‘fairer’. We take a look at some of the reasons for the perceived unfairness of council tax, and some of the suggestions as to how to resolve this.