March 1st, 2017 / Insight posted in MKS Comments

Raise tax thresholds on Budget Day, says Tim Stovold

“The expected bumper tax revenues of £29bn give the Chancellor the freedom to take a bold step towards reconnecting with ordinary working people,” says Tim Stovold, head of tax at Kingston Smith. “As the government is already committed to a tax free personal allowance of £12,500 and a 40 per cent tax threshold of £50,000 by the end of this parliament, Philip Hammond could use some of the windfall to accelerate the increase in this allowance and threshold. Senior nurses, teachers and policemen would be better off by up to £1,200 per year.”