Tax allowance 2021/22: Has the income tax allowance gone up, what does it mean for you? | Personal Finance | Finance

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Has the income tax allowance gone up?

There are expected to be no changes to income tax rates this year as per a manifesto pledge made by the Tories in 2019.

The £12,500 personal allowance threshold, however, was expected to rise in the new tax year.

The Chancellor confirmed in Wednesday’s Budget the Government will go ahead with the proposed income tax threshold freeze. 

Mr Sunak did, however, say the higher threshold will instead come into play in 2022. 





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