Change 1 Article Choose an article Title and introductory text 1 Income tax charge for tax year 2021-22 2 Main rates of income tax for tax year 2021-22 3 Default and savings rates of income tax for tax year 2021-22 4 Starting rate limit for savings for tax year 2021-22 5 Basic rate limit and personal allowance for future tax years 6 Charge and main rate for financial years 2022 and 2023 7 Small profits rate chargeable on companies from 1 April 2023 8 Increase in the rate of diverted profits tax 9 Super-deductions and other temporary first-year allowances 10 Further provision about super-deductions etc 11 Reduced super-deduction 12 Disposal of assets where super-deduction made 13 Disposal of assets where SR allowance made 14 Counteraction where arrangements are contrived etc 15 Extension of temporary increase in annual investment allowance 16 Meaning of “general decommissioning expenditure” 17 Extensions of plant or machinery leases for reasons related to coronavirus 18 Temporary extension of periods to which trade losses may be carried back 19 R&D tax credits for SMEs 20 Extension of social investment tax relief for further two years 21 Workers' services provided through intermediaries 22 Payments on termination of employment 23 Cash equivalent benefit of a zero-emissions van 24 Enterprise management incentives 25 Cycles and cyclist's safety equipment 26 Exemption for coronavirus tests 27 Optional remuneration arrangements: statutory parental bereavement pay 28 Freezing the standard lifetime allowance 29 Collective money purchase benefits 30 Construction industry scheme 31 Covid-19 support scheme: working households receiving tax credits 32 Self-employment income support scheme 33 Deduction where business rates etc repaid 34 Repeal of provisions relating to the Interest and Royalties Directive 35 Payments made to victims of modern slavery etc 36 Hybrid and other mismatches 37 Relief for losses etc 38 Corporate interest restriction: minor amendments 39 Northern Ireland Housing Executive 40 Annual exempt amount 41 Hold-over relief for foreign-controlled companies 42 Plastic packaging tax 43 Charge to plastic packaging tax 44 Liability to pay plastic packaging tax 45 Rate 46 Payment 47 Chargeable plastic packaging components 48 Meaning of “plastic packaging component” 49 Meaning of “plastic” and “recycled plastic” , “recycled plastic” and “attributed recycled plastic” 49A Meaning of “chemical recycling certification scheme” 49B Chemical recycling certification schemes: further conditions 50 Time of importation 51 Plastic packaging components intended for export 52 Exempt plastic packaging components 53 Tax credits 54 The register 55 Liability to register: producers and importers 56 Notification of liability and registration 57 Cancellation of registration 58 Correction of the register 59 Notices imposing secondary or joint and several liability 60 Measurement of weight etc 61 Payment, collection, recovery 62 Reviews and appeals 63 Records 64 Information and evidence 65 Security for tax 66 Unincorporated bodies 67 Service 68 Statements for business customers 69 Tax representatives of non-resident taxpayers 70 Adjustment of contracts 71 Groups of companies 72 Prevention of artificial separation of business activities: directions 73 Prevention of artificial separation of business activities: effect of directions 74 Death, incapacity or insolvency of person carrying on a business: regulations 75 Transfer of business as a going concern: regulations 76 Isle of Man: import and export of chargeable plastic packaging components 77 Fraudulent evasion 78 Misstatements 79 Conduct involving evasions or misstatements 80 Penalty for contravening relevant requirements 81 Criminal proceedings 82 Minor and consequential amendments 83 Interpretation 84 Regulations 85 Commencement etc 86 Rate bands etc for tax years 2021-22 to 2030-31 87 Temporary period for reduced rates on residential property 88 Increased rates for non-resident transactions 89 Relief from higher rate charge for certain housing co-operatives etc 90 Relief for certain housing co-operatives 91 Repayment to certain housing co-operatives: 2020-21 chargeable period 92 Extension of temporary 5% reduced rate for hospitality and tourism sectors 93 Temporary 12.5% reduced rate for hospitality and tourism sectors 94 Extending digital record-keeping for VAT purposes to all businesses 95 Distance selling: Northern Ireland 96 Distance selling: power to make further provision 97 Supply of imported works of art etc 98 Continuing effect of principle preventing the abuse of the VAT system 99 Deferring VAT payment by reason of the coronavirus emergency 100 Refunds to S4C 101 Steel removed to Northern Ireland 102 Restriction of use of rebated diesel and biofuels 103 Rates of tobacco products duty 104 Rates for light passenger or light goods vehicles, motorcycles etc 105 Rebates where higher rate of duty paid 106 HGV road user levy (extension of suspension) 107 Rates of air passenger duty from 1 April 2022 108 Amounts of gross gaming yield charged to gaming duty 109 Rates of climate change levy from 1 April 2022 to 31 March 2023 110 Rates of climate change levy from 1 April 2023 111 Rates of landfill tax 112 Repeal of carbon emissions tax 113 Designation of special tax sites 114 Capital allowances for freeport tax sites 115 Relief from stamp duty land tax for freeport tax sites 116 Penalties for failure to make returns etc 117 Penalties for failure to pay tax 118 Penalties for failure to make returns etc or pay tax: consequential provision 119 Follower notice penalties 120 Late payment interest and repayment interest: VAT 121 Promoters of tax avoidance schemes 122 Disclosure of tax avoidance schemes 123 Penalties for enablers of defeated tax avoidance 124 The GAAR and partnerships 125 Licensing authorities: requirements to give or obtain tax information 126 Financial institution notices 127 Collection of tax debts 128 Miscellaneous amendments of Schedule 36 to FA 2008 129 International arrangements for exchanging information on the gig economy 130 Unauthorised removal or disposal of seized goods 131 Temporary approvals etc pending review or appeal 132 Replacement of LIBOR with incremental borrowing rate 133 Tax consequences of reform etc of LIBOR and other reference rates 134 Powers of the Treasury to amend legislation relating to banks 135 Interpretation 136 Short title SCHEDULE 1 Small profits rate for non-ring fence profits SCHEDULE 2 Temporary extension of periods to which trade losses may be carried back SCHEDULE 3 R&D tax credits for SMEs SCHEDULE 4 R&D tax credits for SMEs: Northern Ireland companies SCHEDULE 5 Pension schemes: collective money purchase benefits SCHEDULE 6 Construction industry scheme: amendments SCHEDULE 7 Hybrid and other mismatches SCHEDULE 8 Relief from corporation tax for losses and other amounts SCHEDULE 9 Plastic packaging tax: secondary liability and assessment notices and joint and several liability notices SCHEDULE 10 Plastic packaging tax: recovery and overpayments SCHEDULE 11 Plastic packaging tax: reviews and appeals SCHEDULE 12 Plastic packaging tax: information and evidence SCHEDULE 13 Plastic packaging tax: groups of companies SCHEDULE 14 Plastic packaging tax: assessment of penalties under section 80 SCHEDULE 15 Plastic packaging tax: amendments of other legislation SCHEDULE 16 SDLT: increased rates for non-resident transactions SCHEDULE 17 SDLT (relief from higher rate charge for certain housing co-operatives etc): minor and consequential amendments SCHEDULE 18 VAT and distance selling: Northern Ireland SCHEDULE 19 Deferring VAT payment by reason of the coronavirus emergency SCHEDULE 20 Customs duty: steel products SCHEDULE 21 Restriction of use of rebated diesel and biofuels SCHEDULE 22 Capital allowances for freeport tax sites SCHEDULE 23 Relief from stamp duty land tax for freeport tax sites SCHEDULE 24 Penalties for failure to make returns etc SCHEDULE 25 Penalties for deliberately withholding information SCHEDULE 26 Penalties for failure to pay tax SCHEDULE 27 Schedules 24 to 26: consequential provision SCHEDULE 28 Follower notice penalties SCHEDULE 29 Late payment interest and repayment interest: VAT SCHEDULE 30 Amendments of Part 5 of FA 2014 SCHEDULE 31 Disclosure of tax avoidance schemes SCHEDULE 32 The GAAR and partnerships SCHEDULE 33 Licensing authorities: requirements to give or obtain tax information SCHEDULE 34 Information powers: miscellaneous amendments
What to do with it
As published
5 Basic rate limit and personal allowance for future tax years
(1) For the tax years 2022-23, 2023-24, 2024-25 , 2025-26, 2026-27 , 2027-28, 2028-29, 2029-30 and 2030-31 , the amount specified in section 10(5) of ITA 2007 (basic rate limit) is “£37,700”.
(2) For the tax years 2022-23, 2023-24, 2024-25 , 2025-26, 2026-27 , 2027-28, 2028-29, 2029-30 and 2030-31 , the amount specified in section 35(1) of ITA 2007 (personal allowance) is “£12,570”.
(3) Accordingly—
(a) section 21 of ITA 2007 (indexation of basic rate limit) does not apply in relation to the basic rate limit, and
(b) section 57 of ITA 2007 (indexation of allowances) does not apply in relation to the amount specified in section 35(1) of that Act,
for the tax years 2022-23, 2023-24, 2024-25 , 2025-26, 2026-27 , 2027-28, 2028-29, 2029-30 and 2030-31 .
Your wording
Your change, as a redline
5 Basic rate limit and personal allowance for future tax years
(1) For the tax years 2022-23, 2023-24, 2024-25 , 2025-26, 2026-27 , 2027-28, 2028-29, 2029-30 and 2030-31 , the amount specified in section 10(5) of ITA 2007 (basic rate limit) is “£37,700”.
(2) For the tax years 2022-23, 2023-24, 2024-25 , 2025-26, 2026-27 , 2027-28, 2028-29, 2029-30 and 2030-31 , the amount specified in section 35(1) of ITA 2007 (personal allowance) is “£12,570”.
(3) Accordingly—
(a) section 21 of ITA 2007 (indexation of basic rate limit) does not apply in relation to the basic rate limit, and
(b) section 57 of ITA 2007 (indexation of allowances) does not apply in relation to the amount specified in section 35(1) of that Act,
for the tax years 2022-23, 2023-24, 2024-25 , 2025-26, 2026-27 , 2027-28, 2028-29, 2029-30 and 2030-31 .
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.