Tax free personal allowance increased to £14,064 for backdating households

 

There's been no announcement about increasing the tax-free personal allowance to £14,064 for backdating households. In fact, the current personal allowance remains at £12,570, and it's been frozen until April 2028. This means that taxpayers won't see an increase in their tax-free allowance until then.

It's worth noting that the government's decision to freeze the personal allowance and other tax thresholds is expected to raise over £1.2 billion by April 2028. While this might not be welcome news for taxpayers, it's essential to consider the broader economic context and the government's efforts to balance its finances.

If you're looking for ways to minimize your tax liability, consider consulting with a tax professional or exploring legitimate tax-saving strategies. However, there's no indication that a £14,064 tax-free personal allowance is on the horizon.