Policy paper
Income Tax Personal Allowance and the basic rate limit from 6 April 2022 to 5 April 2026
This tax information and impact note is about maintaining the Personal Allowance and basic rate limit at their 2021 to 2022 tax year levels up to and including the 2025 to 2026 tax year.
Documents
Details
This measure maintains the Personal Allowance and basic rate limit at their 2021 to 2022 tax year levels up to and including the tax year ending 5 April 2026.
It will set the Personal Allowance at £12,570, and the basic rate limit at £37,700 for the following tax years:
- 2022 to 2023
- 2023 to 2024
- 2024 to 2025
- 2025 to 2026
The higher rate threshold will be £50,270 for these years.
The National Insurance Contributions Upper Earnings Limit and Upper Profits Limit will remain aligned to the higher rate threshold for these years.