VAT, capital gains tax, pensions & inheritance tax thresholds also frozen

March 3, 2021|In KRW Tax news|By Keith Witchell

Alongside the freezing of the tax-free personal allowance and higher rate tax thresholds, the Chancellor also announced that the VAT registration threshold will be frozen at £85k for 3 years, while the Capital Gains Tax annual exemption of £12,300, the pensions Lifetime Allowance of £1,073,100, and the current Inheritance Tax thresholds will be frozen for 5 years until April 2026.

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Keith Witchell