Tax Allowances
Commons · Question 46234 · Tabled 17 Apr 2025 · Treasury · Official record
Answered 24 Apr 2025
Question
Asked by Sir Ashley Fox
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential impact of raising the personal tax-free allowance in line with the state pension on public finances.
Answer
Answered by James Murray, 24 Apr 2025
The Personal Allowance - the amount an individual can earn before paying tax - will continue to exceed the basic and full new State Pension this tax year. This means pensioners whose sole income is the full new State Pension or basic State Pension without...