Money Tax Smart

Tax Planning - The Easy Way

The amount you can earn before paying tax, called the Personal Allowance, will stay at £12,570 until the 2027-28 tax year. The 40% higher tax rate will still start at £50,270.

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Since wages tend to rise over time, more people will move into higher tax brackets, meaning they will pay more tax. The government has confirmed that these tax thresholds will not change until at least 2027-28.

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This means many people will face bigger tax bills in the coming years. It’s important to understand how this could affect you and plan ahead.

Need help with tax planning? Contact Money Tax Smart today!