The personal tax allowance will remain frozen at £12,570 for the 2024/25 financial year.
More than 12,200 people have signed an online petition urging the UK Government to increase the personal tax allowance to £15,000 to “help people on a low wage” to offset the ongoing cost of living crisis. The proposal is now entitled to a written response from the UK Government.
Petition creator Rameez Gondal states in the petition: “We think the Government should put up the personal tax allowance to £15,000. This could help people on a low wage and help with the increase in the cost of living. Top Money Stories Today Tax on State Pension A separate, second petition, created by Kenneth Bardsley, is also calling for State Pensions and benefits not to be taxed, arguing that the taxation is “punishing pensioners and those on some benefits” and “pushing people even deeper into poverty”.
“We believe that in effect this taxation is punishing pensioners and those on some benefits for things that are largely no fault of their own and that this is an utter disgrace in a democracy, in one of the world's richest countries. It is our view that it is unconscionable and that the Government must act.”
The uprating will see the full New State Pension rise from £203.85 per week to £221.20 and as payments are typically made every four weeks, this amounts to £884.80 each pay period. Latest online petitions Someone on the full rate of the Basic State Pension will see payments go up from £156.20 per week to £169.50 - this amounts to £678 each pay period. Over the 2024/25 financial year, this is an increase of £692, taking the annual income from £8,122 to £8,814.
State Pension Benefits Cost Of Living Taxes Tax UK Government HMRC
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