The government is due to scrap the higher personal tax allowance for over 65’s in April and an online petition opposing the measure has almost the required 100,000 signatures before it goes to debate.

The personal allowance for someone aged 65-74 is currently £10,500 and the removal of this higher allowance (dubbed the ‘Granny Tax’) has proved hugely unpopular with pensioners and voters alike.

The Budget will be held on March 20th with the Chancellor already facing many calls to change tax rates elsewhere, such as reducing capital gains tax in a bid to boost transactions and increase the tax take that way.

Curo

March 2013

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