There are small increases in the personal allowance and basic rate thresholds for the new tax year to 5 April 2022 but after this they remain frozen until 5 April 2026. This results in an annual tax saving of £14 for a basic rate taxpayer £68 if you pay higher rate tax.
Rishi Sunak confirmed that the capital gains tax annual exemption, inheritance nil rate band and pension savings allowance will remain frozen until 5 April 2024.
A summary of the thresholds for the next year are listed below:
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