Part 1: Principal rates etc. Section 6: Basic rate limit from 2016 Background note
Income tax is an annual tax. It is for Parliament to impose income tax for a year.
	An individual’s taxable income is charged to tax at the basic rate of tax up to the basic rate limit.
	Finance Act 2015 sets the basic rate limit at £31,900 for 2016-17 and £32,300 for 2017-18.
	Section 1 sets out that that the basic, higher and additional rates of income tax will not increase above 20%, 40% and 45% for the duration of this Parliament.