United Kingdom

Details

  • Service: Tax, Budget 2014
  • Type: Press release
  • Date: 19/03/2014

Budget 2014: Some good news at last for higher rate tax payers 

Today’s Budget saw a small measure of good news for higher rate tax payers, with the threshold at which the 40% rate is payable due to go up by £421 from April 2015. Higher rate payers will also benefit from the increase to £10,500 of the personal tax allowance.

Greg Limb, tax partner at KPMG, said:  “After several years of seeing any gain through the personal tax allowance rising being cancelled out by a drop in the amount at which the 40% rate kicks in, now at last most higher rate tax payers will see a reduction in their income tax liability, of around £180.  Whilst a relatively modest amount in the scheme of things, I am sure it is something that individuals will welcome.”

 

Ends


Follow us on twitter: @kpmguk #budget2014
www.kpmg.com/uk/budget2014


For further information please contact:


KPMG Press office
Tel:  +44 (0) 207 694 8773
Mark Hamilton, KPMG Corporate Communications
Mobile: 07785 337672
mark.hamilton@kpmg.co.uk


About KPMG:

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

 

Share this

Share this

Contact Us

 

Mark Hamilton

Mark Hamilton

Senior PR Manager - Audit, People & Corporate Responsibility

KPMG in the UK

020 7694 2687

Email Mark