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The £12,500 personal allowance, £50,000 for the higher rate, was in the 2015 Conservative manifesto to be reached for the 2020/21 tax year. I'm not sure any (manifesto, not budget) commitment to intervening levels was made. The previously announced £11,200 for April 2017 in fact became £11,500, for example.
So £11,850, a rise of £350 from April'18, would lead me to expect something in the region of £12,150 to £12,200 in April '19. Similarly a rise in the higher t/h from £45K to £46,450 would lead me to expect something in the region of £48K in '19.
It is of course possible that the '19 thresholds might be slightly lower than a vaguely linear increase might be expected to produce, in order to maximise tax take for as long as possible before rising to manifesto promises.
Assuming the Conservatives are still in office... |
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Author: Jezza99
26-11-2019 02:33:01