A breakdown for the Exchequer impact of the changes to the Income Tax Personal Allowance (PA) and Higher Rate Threshold (HRT) announced at the Budget 2018 on 29 October 2018 is provided in Table 1.<\/p>
<\/p>
Table 1: Exchequer Impact of Budget 2018 announcement\u2013 \u201cPersonal Allowance and Higher Rate Threshold: increase to £12,500 and £50,000 for 2019-20 and 2020-21\u201d, and Exchequer Impacts of the Personal Allowance and Higher Rate Threshold Elements.<\/p>
<\/p>
Budget 2018 announcement (£ million)<\/p><\/td> | 2018-19<\/p><\/td> | 2019-20<\/p><\/td> | 2020-21<\/p><\/td> | 2021-22<\/p><\/td> | 2022-23<\/p><\/td> | 2023-24<\/p><\/td><\/tr> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Allowance and Higher Rate Threshold: increase to £12,500 and £50,000 for 2019-20 and 2020-21<\/p><\/td> | 0<\/p><\/td> | -2,790<\/p><\/td> | -1,935<\/p><\/td> | -1,445<\/p><\/td> | -1,605<\/p><\/td> | -1,780<\/p><\/td><\/tr> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
of which<\/em><\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td><\/tr> (i) Personal Allowance: increase to £12,500 for 2019-20 and 2020-21*<\/p><\/td> 0<\/p><\/td> -1,980<\/p><\/td> -885<\/p><\/td> -600<\/p><\/td> -650<\/p><\/td> -725<\/p><\/td><\/tr> (ii) Higher Rate Threshold: increase to £50,000 for 2019-20 and 2020-21 (given (i))**<\/p><\/td> 0<\/p><\/td> -810<\/p><\/td> -1,050<\/p><\/td> -845<\/p><\/td> -955<\/p><\/td> -1,055<\/p><\/td><\/tr><\/tbody><\/table> <\/p> * This line assumes no change to the Basic Rate Limit (BRL).<\/p> <\/p> ** This line reflects the impact of increasing the HRT to £50,000, assuming the PA has been increased to £12,500.<\/p> The Exchequer impact above includes the impact from the Upper Earnings Limit and Upper Profits Limit for National Insurance being aligned with the Income Tax Higher Rate Threshold. Further information on the Exchequer impact from the \u201cPersonal Allowance and Higher Rate Threshold: increase to £12,500 and £50,000 in 2019-20 and 2020-21\u201d measure can be found in \u201cBudget 2018: policy costings\u201d.<\/p> Totals may not sum due to rounding.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3935", "label" : {"_value" : "Biography information for Mel Stride"}
}
, "answeringMemberConstituency" : {"_value" : "Central Devon"}
, "answeringMemberPrinted" : {"_value" : "Mel Stride"}
, "dateOfAnswer" : {"_value" : "2018-11-05", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "186304"}
, {"_value" : "186305"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-11-05T17:28:25.963Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-10-31", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Income Tax: Tax Allowances"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, with reference to table 2.1 of Budget 2018, what estimate he has made of the cost of the public purse of (a) increasing the personal allowance to £12,500 and (b) increasing the higher rate threshold to £50,000, in each year of the forecast period.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4607", "label" : {"_value" : "Biography information for Stephanie Peacock"}
}
, "tablingMemberConstituency" : {"_value" : "Barnsley East"}
, "tablingMemberPrinted" : [{"_value" : "Stephanie Peacock"}
], "uin" : "186423"}
, {"_about" : "http://data.parliament.uk/resources/999331", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/999331/answer", "answerText" : {"_value" : " A breakdown for the Exchequer impact of the changes to the Income Tax Personal Allowance (PA) and Higher Rate Threshold (HRT) announced at the Budget 2018 on 29 October 2018 is provided in Table 1.<\/p> <\/p> Table 1: Exchequer Impact of Budget 2018 announcement\u2013 \u201cPersonal Allowance and Higher Rate Threshold: increase to £12,500 and £50,000 for 2019-20 and 2020-21\u201d, and Exchequer Impacts of the Personal Allowance and Higher Rate Threshold Elements.<\/p> <\/p> Budget 2018 announcement (£ million)<\/p><\/td> 2018-19<\/p><\/td> 2019-20<\/p><\/td> 2020-21<\/p><\/td> 2021-22<\/p><\/td> 2022-23<\/p><\/td> 2023-24<\/p><\/td><\/tr> Personal Allowance and Higher Rate Threshold: increase to £12,500 and £50,000 for 2019-20 and 2020-21<\/p><\/td> 0<\/p><\/td> -2,790<\/p><\/td> -1,935<\/p><\/td> -1,445<\/p><\/td> -1,605<\/p><\/td> -1,780<\/p><\/td><\/tr> of which<\/em><\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td> <\/p><\/td><\/tr> (i) Personal Allowance: increase to £12,500 for 2019-20 and 2020-21*<\/p><\/td> 0<\/p><\/td> -1,980<\/p><\/td> -885<\/p><\/td> -600<\/p><\/td> -650<\/p><\/td> -725<\/p><\/td><\/tr> (ii) Higher Rate Threshold: increase to £50,000 for 2019-20 and 2020-21 (given (i))**<\/p><\/td> 0<\/p><\/td> -810<\/p><\/td> -1,050<\/p><\/td> -845<\/p><\/td> -955<\/p><\/td> -1,055<\/p><\/td><\/tr><\/tbody><\/table> <\/p> * This line assumes no change to the Basic Rate Limit (BRL).<\/p> <\/p> ** This line reflects the impact of increasing the HRT to £50,000, assuming the PA has been increased to £12,500.<\/p> The Exchequer impact above includes the impact from the Upper Earnings Limit and Upper Profits Limit for National Insurance being aligned with the Income Tax Higher Rate Threshold. Further information on the Exchequer impact from the \u201cPersonal Allowance and Higher Rate Threshold: increase to £12,500 and £50,000 in 2019-20 and 2020-21\u201d measure can be found in \u201cBudget 2018: policy costings\u201d.<\/p> Totals may not sum due to rounding.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3935", "label" : {"_value" : "Biography information for Mel Stride"}
}
, "answeringMemberConstituency" : {"_value" : "Central Devon"}
, "answeringMemberPrinted" : {"_value" : "Mel Stride"}
, "dateOfAnswer" : {"_value" : "2018-11-05", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "186305"}
, {"_value" : "186423"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-11-05T17:28:25.84Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-10-31", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Income Tax: Tax Allowances"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "questionText" : "To ask the Chancellor of the Exchequer, with reference to the figures in the table entitled Exchequer Impact (£m) on page 5 of his Department's document, Budget 2018: policy costings, published on 29 October 2018, if he will publish a separate figure for the Exchequer impact of the increase in the personal allowance to £12,500 for each of those financial years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3966", "label" : {"_value" : "Biography information for Ian Murray"}
}
, "tablingMemberConstituency" : {"_value" : "Edinburgh South"}
, "tablingMemberPrinted" : [{"_value" : "Ian Murray"}
], "uin" : "186304"}
, {"_about" : "http://data.parliament.uk/resources/988714", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/988714/answer", "answerText" : {"_value" : " In April, the government took a significant step towards meeting these commitments; the personal allowance increased from £11,500 to £11,850, and the higher rate threshold from £45,000 to £46,350.<\/p> <\/p> By year end 2018-19, these changes will have benefitted over 31 million individuals since the start of the last Parliament, 1.2 million people on the lowest incomes will have been taken out of income tax altogether, and a typical taxpayer will pay £1,075 less income tax, compared to 2010-11.<\/p> <\/p> As with all aspects of the tax system, the government will keep the personal allowance under review and any decisions on future changes will be taken as part of the annual Budget process in the context of the wider public finances.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3935", "label" : {"_value" : "Biography information for Mel Stride"}
}
, "answeringMemberConstituency" : {"_value" : "Central Devon"}
, "answeringMemberPrinted" : {"_value" : "Mel Stride"}
, "dateOfAnswer" : {"_value" : "2018-10-24", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-10-24T15:52:52.95Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-10-16", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Income Tax: Tax Allowances"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "questionText" : "To ask the Chancellor of the Exchequer, whether he plans to increase personal income tax allowances for lower rate taxpayers after the UK leaves the EU.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1597", "label" : {"_value" : "Biography information for David Simpson"}
}
, "tablingMemberConstituency" : {"_value" : "Upper Bann"}
, "tablingMemberPrinted" : [{"_value" : "David Simpson"}
], "uin" : "180153"}
, {"_about" : "http://data.parliament.uk/resources/872635", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/872635/answer", "answerText" : {"_value" : " An estimate of the number of people who received income tax age-related personal allowances in 2015-16, 2016-17, and 2017-18 is shown below:<\/p> <\/p> <\/p><\/td> 2015-16<\/strong><\/p><\/td> 2016-17 <\/strong><\/p><\/td> 2017-18<\/strong><\/p><\/td> <\/p><\/td><\/tr> Number of Individuals (thousands) <\/strong><\/p><\/td> 1,600<\/p><\/td> 0<\/p><\/td> 0<\/p><\/td> <\/p><\/td><\/tr><\/tbody><\/table> <\/p> From 2013-14 the age-related personal allowances were frozen until they were aligned with the personal allowance. In 2015-16 the age-related personal allowance for individuals born before 6 April 1938 was higher than the personal allowance. The age-related personal allowances were fully aligned with the personal allowance from 2016-17, which is why there are no people shown in the table as having age-related personal allowances in that year and the next.<\/p> <\/p> These estimates are based on the 2014-15 Survey of Personal Incomes, projected using economic assumptions consistent with the Office for Budget Responsibility\u2019s November 2017 Economic and Fiscal Outlook.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3935", "label" : {"_value" : "Biography information for Mel Stride"}
}
, "answeringMemberConstituency" : {"_value" : "Central Devon"}
, "answeringMemberPrinted" : {"_value" : "Mel Stride"}
, "dateOfAnswer" : {"_value" : "2018-03-29", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-03-29T11:33:13.713Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-03-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Income Tax: Tax Allowances"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, how many people received income tax age-related personal allowances in (a) 2015-16, (b) 2016-17 and (c) 2017-18.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4397", "label" : {"_value" : "Biography information for Peter Dowd"}
}
, "tablingMemberConstituency" : {"_value" : "Bootle"}
, "tablingMemberPrinted" : [{"_value" : "Peter Dowd"}
], "uin" : "134449"}
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|