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Make higher rate income tax only payable by individuals over 35 years of age.

Submitted by Georgia Thomas on Thursday 22nd July 2021

Published on Tuesday 27th July 2021

Current status: Closed

Closed: Thursday 27th January 2022

Signatures: 28

Relevant Departments

Tagged with

Bonus ~ income tax ~ Individuals ~ Old ~ People ~ Professional ~ Rate ~ Ratings ~ remain ~ Tax ~ UNIVERSE ~ Universities ~ Up ~ Years ~ Young people

Petition Action

Make higher rate income tax only payable by individuals over 35 years of age.

Petition Details

Graduates often leave university with over £50,000 of student debt. Those who work hard may end up in professional or other graduate jobs which provide salaries that take them into the higher rate income tax band, quickly. As a 26 year old who falls into this category, I am penalised for succeeding.

Additional Information

Many young employees and professionals work hard to repay student debt, save for a first home and work long hours for their salary/bonus. Income tax at a rate of 40% is extremely hard for these people who if they still fell into the lower rate tax band would benefit from their income, be able to save towards a first home easier and benefit from their hard work. Incentivise young people and graduates by allowing all under 35s to remain in the lower tax band notwithstanding higher annual salaries.

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