Around two million low-income couples are expected to be given a £2,500 boost in Friday’s emergency Budget. Liz Truss wants to allow the transfer of all personal tax allowances between married couples and civil partners, where one earns below the £12,570 tax free threshold, Mirror Online reports.
Currently, a lower earner can 'gift' £1,260 of allowance – saving £214 tax after adjustments. That could rise tenfold. Chancellor Kwasi Kwarteng is examining the figures to see whether he can afford the extra £5.8billion now – or wait until the full Budget later this year.
He will definitely axe April’s National Insurance rise and reverse a planned hike in corporation tax from 19pc to 25pc. The joint cost will be £30billion. READ MORE : "I'm poor.
I do nothing. I drive a s*** car": The café owners whose dreams have become a nightmare A limit on bankers’ bonuses, now capped at 200p of salary, is expected to go.
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