ABCDEFGHIJKLMNOPQRSTUVWXYZ
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Freeze by 2028
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Cost to basic and higher rate taxpayer of income tax thresholds not having been uprated in 2022-23 and 2023-24
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£14,260-£50,270OBR Inflation forecasts
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Personal allowanceWould've beenFrozen atBasic rate hit (cumul)CPI Sept 20213.1%
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2023-24£14,270£12,570£340CPI Sept 202210.1%
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2024-25£15,230£12,570£532CPI Sept 20230.076.72023Q36.9%
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2025-26£15,230£12,570£532CPI Sept 20240.0002024Q3-0.2%
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2026-27£15,230£12,570£532CPI Sept 20250.0002025Q3-1.1%
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2027-28£15,370£12,570£560CPI Sept 20260.010.92026Q30.9%
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£57,060-£100,000
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Basic rate limitWould've beenFrozen atHigher rate hit (cumul)£3,944£3,384-£560
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2023-24£42,900£37,700£1,720£3,440
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2024-25£45,800£37,700£2,684£964£5,368
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2025-26£45,800£37,700£2,684£0£5,368
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2026-27£45,800£37,700£2,684£0£5,368
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2027-28£46,300£37,700£2,840£156£5,680
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Higher rate thresholdWould've beenFrozen at2240
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2023-24£57,170£50,270
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2024-25£61,030£50,270
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2025-26£61,030£50,27032292
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2026-27£61,030£50,270
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2027-28£61,670£50,270
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2027-28 higher rate taxpayer
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Gross income£65,000
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Unfrozen thresholdsFrozen thresholdsDifference
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Basic rate tax£9,260£7,540
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Higher rate tax£1,332£5,892
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Total tax£10,592£13,432£2,840
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£3,400
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