Call us: 0330 043 0211
COVID-19 - We are open and here for you
White Arrow
Back to guides

What is the Personal Tax Allowance?

Elliott Jones

All UK taxpayers are entitled to the personal allowance and it is currently £12,500.

Basically, you don’t pay tax on the first £12,500 you earn – simple as that!

The allowance, however, can be increased or decreased under certain circumstances:

  • If your earnings exceed £100,000 you lose £1 for every £2 over £100,000
  • This can be mitigated by paying into a private pension scheme or donating to charity
  • It can be increased by transferring 10% of the allowance of your low-earning spouse
  • It can be increased by claiming for the Blind Person’s Allowance (£2,450)
Suretax What is the Personal Tax Allowance
Suretax is an award-winning accounting firm providing tax and business solutions
Contact Us
White Arrow

Related Guides

Talk to our tax experts today to see how Suretax accounting can help you and your business.

Talk to an accountant