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Indexation of allowances for 2020/21

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The Income Tax (Indexation) Order, SI 2020/343, increases the amount of the blind person’s allowance and the minimum and maximum amounts of married couple’s allowance for the tax year 2020/21 in line with the consumer prices index. It also increases the income limits for married couple’s allowance for individuals born before 5 April 1935. It does not provide for indexation of the personal allowance, which Finance Bill 2019 set at £12,500 for 2019/20 and 2020/21.

Issue: 1482
Categories: News