Office of Budget Responsibility say the effect of frozen or reduced personal tax thresholds is to increase tax receipts (and reduce household incomes) by £12 million a year in 2023/24 rising to £25 million in 2024/25 and £29 million (1 % of GDP) in 2027/28.
Read MoreThe highly respected Resolution Foundation have said that it is the fast growing group of families receiving Universal Credit (UC) who are also having their child benefit withdrawn due to there being an earner in the household on between £50K-£60K.
Read MoreSpring Budget unlikely to make it much easier for parents with young children to re enter the workforce - Tax and the Family say.
Read MoreDominic Lawson in an article in the Daily Mail praises Tax and the Family for campaigning about the unfairness of the tax system and asks why if the Conservatives are meant to be the party of the family they don’t put families first.
Read MoreThe Chancellor announced on Thursday in his autumn statement both tax increases and cuts to public spending. The tax burden is already at an historic high. Family finances are under severe pressure. It is all the more important therefore that we should be sharing the tax burden between ourselves as fairly as possible.
Read MoreThe Low Income Tax Reform Group - described as a voice for the unrepresented - has drawn attention to the fact that the” tax cuts for families” has left the child benefit clawback untouched and has stressed the need to consider benefit impacts of the tax and NIC changes announced on 23rd September 2022.
Read MoreThe Chancellor of the Exchequer said today that he would be introducing a tax system which would be fairer for families.
This he has not done.
Read MoreTax and Family has written to the new Chancellor asking him to allow all parents to parents to transfer their personal tax allowance to their partner and to give lone parents an additional personal allowance.
Read MoreAs part of an overhaul of the tax system Liz Trust, Conservative leadership contender, has said she would allow people to share their personal tax allowances. Tax and the Family welcome this proposal. It would be a more cost effective way of helping poorer households than cutting the basic rate of income tax.
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