Can or won't?
Reform have indicated they are going to make changes to our system of taxation. They have come up with alternative plans for non doms as well.Here's one of them. We'll know the exact details of more changes when we see his manifesto.
https://www.telegraph.co.uk/money/ta...les-will-work/
[EXTRACT]
[I]The Reform UK leader promised sweeping tax breaks for married couples in a bid to boost birth rates and make family “a more important element in British life”. Estimates suggest it would save the average couple almost £2,500 a year in tax.
Currently, workers pay 20pc income tax on earnings between £12,570 and £50,270. Under Reform’s plans, one spouse would be spared from paying tax on the first £25,000 of income. It means a worker earning £50,000 would save about £2,500 in income tax.
The party has already vowed to raise the tax-free allowance from £12,571 to £20,000, which estimates suggest could cost as much as £80bn. On top of this, it has promised to raise the higher rate threshold from £50,270 to £70,000, to release the millions more workers being dragged by stealth into the top rate band, shown in the chart below.
If Reform delivered on all three promises, a worker earning £70,000 would be better off by almost £6,500.