Link all personal tax allowances, reliefs and thresholds with inflation

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Link all personal tax allowances, reliefs and thresholds with inflation

Petition Details

Index link all personal tax allowances, reliefs and thresholds with annual inflation to reduce the impact of increased salaries pushing individuals into paying more in tax, including income tax and inheritance tax. This includes tax reliefs such as car mileage that hasn't changed for over 12 years.

Additional Information

With the current system more and more working class individuals are now paying higher rate tax and have inheritance tax issues on death. These taxes were originally to tax the wealthy, but with wage increases, in reality, His Majesty's Government get more and more of private individual's income and wealth. By index linking the threshold and allowances with inflation, this will negate the tax impact of wage increases.

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