The UK Government has rejected proposals which would allow people to pay their mortgage through their wages before any tax or National Insurance deductions are made
, in a similar way to pension contributions. The proposals in the online petition, created and posted on the official petitions-parliament website by Aqad Zane, has received more than 25,357 signatures of support, at time of writing.
The lengthy response highlights the various financial support measures in place to help households across the country mitigate higher costs of food and fuel along with the impact of the Bank of England’s base rate rise. The petition continues: “This would allow more people to become mortgage free sooner in life and put more towards their and their children's future. It could also help divorced couples, where people are having to start life all over again, on their own, at a late age.
Jonathan said that higher rate taxpayers can make a saving of 40% in income tax and 2% in National Insurance, while employees who pay tax at the basic rate can make a saving of 20% in income tax and 12% in National Insurance.
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