Income Tax: Tax Rates and Bands

HM Treasury written question – answered on 16th October 2014.

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Photo of Stephen Hammond Stephen Hammond Conservative, Wimbledon

To ask Mr Chancellor of the Exchequer, what estimate he has made of revising the starting threshold for (a) basic-rate and (b) top-rate income taxpayers for each £500 the threshold is raised.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

The cost of raising the income tax limits may be approximated using the “Direct effects of illustrative tax changes” table as published on the internet at the following address:

https://www.gov.uk/government/publications/direct-effects-of-illustrative-tax-changes

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