Budget analysis: Personal allowance

 

“The increase in Personal Allowance by £1,100 to £9,205 is of course welcomed and will reduce the tax burden for many in region.” says tax partner Tony Medcalf.

 

“However, it is disappointing that the Chancellor has not taken the opportunity to remove the anomaly of the reduction of the personal allowance for taxpayers with income of £100,000 or more, which can lead to a top rate of tax of 60%. This is wholly inconsistent with a move towards the Chancellor’s goal of simplicity and a universal personal allowance.”