See how the major political parties plan to tax you should they get elected. Enter your gross income to calculate.
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By looking at the headline taxation figures in each party's manifesto we have created a quick and simple comparison calculator.
Below are the major policies outlined by each party in their 2024 Election Manifesto. Anything not mentioned here will retain the current taxation policies in effect for 2024/2025, which you can view here
Tax-free allowances and bands not mentioned to change from today
2 percent cut to the main rate of national insurance for PAYE
Main rate of national insurance for the self employed to be zero-rated
No changes announced to raise the 'rates' of income tax or national insurance
Tax-free allowance freeze could continue and other band thresholds could be subject to changes
Capital gains taxes could be raised as could the rates charged on dividends
Tax-free allowance and band thresholds to continue to be frozen until 2028
No plans announced to increase income tax rates
Capital gains tax to be reformed - so likely to be raised with a removal of the annual exempt amount.
Alignment of the tax rates of capital gains so it is equivalent to income tax plus national insurance, rather than the current 18 to 24 percent
Removal of the upper earnings limit on national insurance so all income is taxed at the main rate rather than the lower additional rate once over the existing threshold
Increase the tax-free personal allowance to £20,000
Pledge to stop people earning under £20k paying tax, so we assume aligned NIC bands
Increase higher rate threshold for income tax to £70,000 gross income (or £50,000 after deducting tax free allowances)
Reform's 'working draft' manifesto is available on their website.
Increase the tax-free personal allowance to £21,200
Pull people earning under £21,200 from paying tax, so assumed aligned NIC bands
No mention of changes to higher rate threshold or the additional rates/thresholds