Joseph Rowntree Foundation in a new report published in December 2017 say that 14 million people live in poverty in the UK – over one in five of the population.. Latest figures show that the majority of children in poverty are in working households. Most are couple families where one or more parents are in work. A couple with two children needed to have almost three times as much income as someone without children to avoid being in poverty. The income tax system takes no account of this.
Read MoreA new report highlights that a British family with an average wage in 2016 is likely to have paid over £3000 in income tax whereas a comparable family in France and Germany would have had no tax to pay and an American family would have had no Federal Income tax to pay – a major new report by Beighton, Draper and Pearson reveals.
Read MoreTax Credits are being replaced by the Universal Credit which replaces both tax credits and Housing Benefit. It does not replace Child Benefit.
Read MoreThe Chancellor of the Exchequer announced in his Autumn Budget that the Income Tax Personal Allowance currently £11,500 is to be increased to £11,850 in April 2018 and the Higher Rate threshold, currently £45,000 is to be increased to £46,350.
Read More