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Among the Budget announcements was affirmation that personal allowances would remain at their 2021-22 levels until April 2026.
The income tax personal allowance will rise with the consumer price index as planned to £12,570 from April 2021 and will remain at this level until April 2026. The income tax higher rate threshold will rise to £50,270 from April 2021.
The National Insurance contributions upper earnings limit and upper profits limit will remain aligned to the higher rate threshold for these years.
The pensions lifetime allowance will remain at its current level of £1,073,100 until April 2026.
