PART 1

Income tax, corporation tax and capital gains tax

Income tax charge, rates etc

Basic rate limit and personal allowance for future tax years
5
1
For the tax years 2022-23, 2023-24, 2024-25 and 2025-26, the amount specified in section 10(5) of ITA 2007 (basic rate limit) is “£37,700”.
2
For the tax years 2022-23, 2023-24, 2024-25 and 2025-26, the amount specified in section 35(1) of ITA 2007 (personal allowance) is “£12,570”.
3
Accordingly—
a
section 21 of ITA 2007 (indexation of basic rate limit) does not apply in relation to the basic rate limit, and
b
section 57 of ITA 2007 (indexation of allowances) does not apply in relation to the amount specified in section 35(1) of that Act,
for the tax years 2022-23, 2023-24, 2024-25 and 2025-26.