David Cameron vowed last year to end scandal of ‘ fiscal drag ’ , which sees 40p dragged into paying millions tax . Chancellor announced series of modest increases in millions threshold in coming years , culminating in 1.4 % rise in 2017 . Means income at which higher rate is payable will rise to £42,385 in 2015 , £42,700 in 2016 and £43,300 in April 2017 . Zac and Suzanna Furbank are among 27million individuals to benefit from the rise in tax-free personal allowance .
David Cameron vowed last year to end scandal of ‘ fiscal drag ’ , which sees millions dragged into paying 40p tax . Chancellor announced series of modest increases in 40p threshold in coming years , culminating in 1.4 % rise in 2017 . Means income at which higher rate is payable will rise to £42,385 in 2015 , £42,700 in 2016 and £43,300 in April 2017 . Zac and Suzanna Furbank are among 27million individuals to benefit from the rise in tax-free personal allowance .