The UK personal allowance, tax rates and bands for the tax year 2022/23 were announced by the Chancellor in the October 2021 Budget.
The personal allowance
The personal allowance is currently £12,570 and will be frozen at £12,570 for the tax years to 2025/26.
There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000. The reduction is £1 for ev…