UK Personal Allowance

[JAS21]

Can anyone tell me what is 'going to/and when' happen to the personal allowance ... it's 10.6K at present. I read that the government will do-away-with-it for those of us who live abroad (sometime). I had been considering transferring a rental house into my wife's name to reduce tax liability but if PA goes then it is not going to save us a huge amount.

I have just found this .. I think it answers my question ... http://www.telegraph.co.uk/finance/personalfinance/expat-money/11272572/Expats-will-keep-their-tax-break.html

Edited July 7, 2015 by JAS21

[AyG]

It's a bit premature to say that it won't happen. He didn't announce it in December, but better to see what the Chancellor says in the Budget tomorrow.

[chris2004]

You can bet Cameron will do his best to screw expats.

[chiang mai]

It's going down, down down down down down - to nada, maybe not this budget but real soon.

"Be Prepared" - Baden Powell

Thanks to Jeff Beck Group for the wording.

[ThaiPauly]

Nothing in this years budget about ex-pats losing their allowance.

However the threshold for paying tax has been raised from 10,600 to 11,000 from next April, so that's good news

[JAS21]

So on the new figures a Basic rate tax payer would be about 80GBP better off per year

A higher rate tax payer (and I think quite a few retirees are) would be about 203GBP better off per year....

I think!!

and in 2017 he slaps a surcharge of 300+GBP on cars costing more than 40KGBP. So a 3or4 year old 2nd hand 'nice' car could have a big road tax bill

So I'm not sure that it is a great budget for Middle England. BUT Phew for the time being we keep out tax threshold allowance.