Income tax drop to 19% in 2024

Budget, For the employee, Taxation 1 Minute

As part of the Spring Statement 2022 announcement, the Chancellor, Rishi Sunak, announced that in 2024 when the rate of inflation is predicted to be back in control, the basic rate of income tax will be cut to 19%, which is expected to benefit over 30 million people.

This will be the first cut in 16 years to the basic rate of income tax.

PAYadvice.UK 24/3/2022

Published by psimonparsons

Published

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