UKIP plan to save £9 billion a year in direct net contributions to the European Union budget by leaving the EU. That will enable them to raise the personal allowance to at least £13,000 and raise the threshold for paying 40% income tax to £55,000. They also propose a new intermediate tax rate of 30% on incomes ranging between £43,500 and £55,000.
A more radical idea is to abolish inheritance tax completely. UKIP also pledge to remove VAT completely from repairs to listed buildings and the sale of sanitary products.
UKIP tax policies
News: May 2015
UKIP tax policies
UKIP plan to save £9 billion a year in direct net contributions to the European Union budget by leaving the EU. That will enable them to raise the personal allowance to at least £13,000 and raise the threshold for paying 40% income tax to £55,000. They also propose a new intermediate tax rate of 30% on incomes ranging between £43,500 and £55,000.
A more radical idea is to abolish inheritance tax completely. UKIP also pledge to remove VAT completely from repairs to listed buildings and the sale of sanitary products.
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