Overview
- The petition seeks to lift the personal allowance from £12,570 to £20,000, a move framed as relief from rising living costs.
- A basic-rate earner on £20,000 or more would save £1,486 a year, with a two-adult household at that income saving £2,972.
- The next milestone is 100,000 signatures, which would see the proposal considered for a parliamentary debate.
- The allowance is frozen at £12,570 until April 2028, and it tapers away above £100,000, disappearing entirely by £125,140.
- Separately from the petition, HMRC’s rent-a-room scheme allows up to £7,500 in tax-free income, which can lift total tax-free earnings to £20,070 for those eligible.