Tax Allowance

Our team of tax specialists have compiled various guidance documents to help you understand what tax allowances are and how they effect your income.

We provide comprehensive guidance articles on various tax allowance topics, equipping you with the knowledge you need to make key decisions.

Our guides help you what exactly tax allowance are, how much are they and how they are applicable to you and your income. Whether you simply want to enhance your knowledge on tax allowances or need to know what your allowance is for the year, our detailed articles provide the insights you need. 

Most Searched Tax Allowance Topics

What Is the Personal Tax Allowance?
The personal allowance is the amount you can earn each tax year before paying income tax. Learn what the personal tax allowance is, how it works, and who qualifies.

Personal Allowance 2025/26
The allowance can change with each Budget. Discover the personal allowance for 2025/26, and whether the threshold has been frozen or updated.

Personal Allowance 2024/25
For the current tax year, thresholds remain unchanged. Find out the personal allowance for 2024/25, and how it affects your take-home pay.

Personal Allowance 2023/24
Looking back can help with tax planning and Self Assessment. Learn what the personal allowance was for 2023/24, and how it compares to current figures.

When Do You Lose Your Personal Allowance?
High earners begin to lose their tax-free amount once income exceeds £100,000. Find out when you lose your personal allowance, and how tapering works.

How Much Can You Earn Before Paying Tax?
You only pay income tax on earnings above your personal allowance. Discover how much you can earn before paying tax, and what counts as taxable income.

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At Towerstone Accountants, we’re committed to providing exceptional service and tailored advice to meet your personal and business financial needs. Whether you’re looking for help with tax planning, bookkeeping, or corporate accounting, our team is here to assist you.

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