INCOME TAX
ON YOUR BASIC MONEY

Basic income tax,
your first tax payment threshold,
is paid now in 2024 on your income
from £12,570 to £50,270 a year,
at 20p in the Pound rate. 

We saw in 2024, emergency law can
bring in instantly lowered taxes.

 
With our From Infants to Over 50s party,

your personal income tax allowance would increase from current £12,570 to £16,960*
(at next general election). 

Your worker National Insurance 

contributions t be lowered from 

current 8 per cent down to 5.50 per cent.

Source of upgraded starter personal tax allowance: 

LOWER AND FURTHER TAX TIERS

• Basic income tax lowered to 10p in the Pound from our start tax threshold of
  £16,960 up to £40,270. 
  
  
• New next low tier of 15p in the Pound on next money of £40,270 up to £50,270.
  
  
• 20p in the Pound on your money moves up from £50,270 to £60,270. 

• Next new tier of 30p in the Pound on your money from £60,270 to £70,270. 
  
  
  
• So 40p in the Pound income tax rate moves up to start from £70,270 to £80,270. 
  
  
• £500 each year increase of  personal tax allowance returns for all income tax bands
  from 10p to 40p in the Pound.
  
  
• £250 each year increase of personal tax allowance on tax band 45p (down to begin from £80,270 from current £125,140 start threshold) and new tax tiers of 50p and 55p on rich people, but who will get personal tax allowance which do not have currently.  

• Basic Income Tax payment start threshold to increase by £500 each year  from next tax year onwards, in our From Infants to Over 50s party government. 

• Between 2020 and 2021 basic tax allowance only increased from £12,500 to £12,570.
• The tax free Personal Allowance for 2024-2025 tax year is still £12,570 (which could remain til 2026-2028?)

• Raise to £2,000 a year the transferrable marriage allowance, from next general election onwards.
  
  
• At the moment you can backdate your claim to any tax year since 5 April 2018 that you were eligible for Marriage Allowance.  
• But the increased £2,000 a year Marriage Allowance would only start from next tax year after our From Infants to Over 50s party get into government.

• The marriage allowance for 2024/25 is £1,260 (same as 2021-2022 and
  2022-2023). This means that the donor spouse/partner gives up £1,260 of their personal allowance and the recipient spouse/partner receives a tax reducer (tax credit) of £252. The maximum tax saving you can get as a couple from the marriage allowance is £252 for the 2024/25 tax year.
   
• To qualify one of couple (married or in a civil partnership) must have income below your currently £12,570 basic income tax allowance. 
  
  
• For very oldest married couples where you or your partner were born before
  6 April 1935, you have a different Married Couple's Allowance (MCA). You cannot claim both MCA and Marriage Allowance at the same time. 

MOTORISTS 

• Cut fuel duty by 10p per litre. 
  
  
• Lower Premium Tax, so car insurance is more affordable, to 1994 rate of 2.5 per cent. With no higher rate, as in 1994, that includes travel insurance (that has within it medical insurance when abroad). 

• Lower entitlement to historic vehicle car tax exemption, to cars over 20 years old instead of 40 years. 
   
• Free car tax for all with
  UK disabled blue parking badges.
  

WAGED WORKERS

NATIONAL INSURANCE CONTRIBUTIONS 

• Lower worker National Insurance contributions to 5.50 per cent, down from current 8 per cent, above personal tax allowance.

• Funded by:
  
  
• From £70,270 wages pay 10 per cent worker National Insurance contributions on all further wealth (currently pay only
  2 per cent). Using current name Upper Earnings (without limit in name).
  
  
• Using name Maximum salary threshold of new rate of £200,270, pay full standard National Insurance worker contribution rate of 12 per cent on all further wealth (currently pay only 2 per cent). 

• Boss remains paying his employer National Insurance contributions (lowered from current 13.8 per cent to 10 per cent) when he employs waged staff, as now, however old you work for him. 

INCOME TAX INCREASE
TO TOP WAGED WORKERS 

• To help pay to resurrect public NHS, including reinstating all closed NHS accident and emergency units,
  which has no private provision. 

• Raise income tax to wages from £80,270 a year, upwards.
  Helps fund NHS and public services. 

• More Tax Bands for top waged above
  40 per cent income tax band.  

TAX ON WORKS / PRIVATE PENSION CONTRIBUTIONS 

• Basic rate taxpayers to get 55 per cent works / private pension tax relief. 

SELF-EMPLOYED 

• End bogus self-employment when only have one employer.
  
  

• Bosses use that ruse to avoid your workers’ rights as waged staff.
  Citizens Advice Bureau has highlighted how unscrupulous employers can compel staff to be self-employed, when they should in fact have employee status.
  This means employers can avoid paying you:
•  minimum wage, 
• employers’ National Insurance contributions (so no state pension),
• sick pay, 
• holiday pay and 
• works pension contributions.

SELF EMPLOYED and
NATIONAL INSURANCE and
PROFIT TAXES 

• Class 4 National Insurance credits for profits below £15,230.
  
  
• Class 4 National Insurance contributions of 1.85 per cent on profits between £15,230 and £40,270.

• Class 4 National Insurance contributions of 5.50 per cent on profits between £40,270 and £70,270. 

• Class 4 National Insurance contributions of 10 per cent on profits over £70,270.

• Class 4 National Insurance contributions of 12 per cent on profits over £200,270. 

SHAREHOLDERS 

• From age 50 - Back up to £5,000
  Dividend Allowance (income tax allowance) from shares, as was in 2016 when begun.
  For shareholders of company shares.
  Helps widow ladies with inherited shares from partner.

• Basic rate tax pay 8.75 per cent Dividend tax
• Current higher (40 per cent) tax rate pay 33.75 per cent Dividend Tax
• Current Additional rate (45 per cent) taxpayers pay 39.35 per cent
  Dividend Tax. 
• You do not pay tax on dividends from shares in an ISA.
• You do not pay tax on any dividend income that falls within your Personal Allowance (the amount of income you can earn each year without paying tax).
  
  
  

STEALTH INDIRECT TAXES 

• Zero Rate VAT on your home energy bills to your own home. Presently 5 per cent (2022). 
  
  
  
• Raise VAT and Excise Duties on luxury items, so more basic items can be Zero Rated. 

• Keep zero VAT rating for food, children’s clothes, books and public transport fares. 

• Abolish BBC TV licence (self-fund as other public broadcaster Channel 4 television does), which is a tax as non-payment has you fined or imprisoned. 

COUNCIL TAX 

• Nil Council tax in first year of our From Infants to Over 50s party's government. 

• Work towards local income tax of  1 per cent per person ( based on 2 people in each home) instead of council property tax.  

Includes pensioner social housing in villages. 

• A higher local income tax band of 5 per cent instead of council property tax, for big village homes would help all rural homes get better road maintenance than now, with narrow lanes only really sized for one vehicle in either direction, with many blind corners and entrance / exit from your property. 

Work towards a one-way system, perhaps? 

Helps bus and van delivery access to your rural homes. 

• Same national basic income tax allowance threshold for start of local income tax. 

• End Bedroom Tax. 

• Sorry to say, but only voting areas that vote our From Infants to Over 50s party into government, will get the best council funding, as this is the tradition of the big parties over the decades. We need at least for you to vote in 400 From Infants to Over 50s party’s MPs into the job, for us to have power over government, and provide anything of our Manifesto for you.