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Closed petition Increase income tax allowance for necessary living costs for basic rate payers
Businesses of all shapes, sizes and incomes are permitted to offset their expenditure against their profits, and only the money left over is taxed.
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With the cost of living crisis, I'm calling on the Government to allow ordinary basic rate tax payers to do the same!
Businesses raking in millions, if not billions, in profits are allowed to offset their expenditure (rent, rates, employee pay etc.) against their profits before they have to pay tax on the remainder.
The ordinary person doesn't have this luxury and all of their above their personal tax-free allowance is taxed.
Allowing specific 'necessary' outgoings to be tax exempt could help to boost the economy by giving people more disposable income to spend!
This petition closed early because of a General Election Find out more on the Petitions Committee website