Tax Thresholds Stay Frozen for Three More Years
Listen to the story
The government will not change some tax rules. These rules say when people must start to pay tax.
There is a point where people start paying tax on their money. This is called a threshold. It will stay the same.
There is also a point where people start paying a higher rate of tax. This means they pay more tax on extra money. This point will also stay the same.
These two points will not change for three more years. This is called a freeze.
A freeze can still affect your pay. If you earn more money, but the threshold stays the same, you may pay more tax than before.
This happens because wages often go up each year. But the tax thresholds do not go up. So more people pay tax, or pay the higher rate.
This change affects many workers. It can change how much money people take home each month.
Vocabulary4 words
- tax
- money people pay to the government
- threshold
- the point where something starts
- higher rate
- a bigger amount of tax on extra money
- freeze
- to stop something from changing
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Quiz
Answer key
1. Tax thresholds 2. Three years 3. True
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The government will not change some _____ rules. These rules say when people must start to pay tax.
There is a point where people start paying tax on their money. This is called a _____. It will stay the same.
There is also a point where people start paying a _____ of tax. This means they pay more tax on extra money. This point will also stay the same.
These two points will not change for three more years. This is called a _____.
A freeze can still affect your pay. If you earn more money, but the threshold stays the same, you may pay more _____ than before.
This happens because wages often go up each year. But the tax thresholds do not go up. So more people pay tax, or pay the _____ rate.
This change affects many workers. It can change how much money people take _____ each month.
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