Raise the tax threshold of Personal Allowance reduction to above £100,000

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Raise the tax threshold of Personal Allowance reduction to above £100,000

Petition Details

Currently, an individual’s Personal Tax Allowance reduces when annual income is above £100,000, by £1 for every £2 earned above this limit. This £100,000 limit has not been increased since its introduction in 2010-11.

Additional Information

Whereas Personal Allowance values have almost doubled since the 2010-11 tax year (£6475 to £11500), the £100,000 earnings limit has not increased since introduction. Therefore, whilst Personal Allowances increase in line with the cost of living, the £100,000 earnings cap does not. Consequently, families of individuals earning over £100,000 are disadvantaged, with tax/child credits already abolished for any family earning over £50,000. The income limit for this PA reduction should be increased.

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