Paul Spicker has written an article suggesting a convertible personal tax allowance. To read the article, click here.
This is a partly-baked idea, based on reform of the Personal Tax Allowance. It would allow people to take the allowance in cash rather than by setting it against their liability for tax. The current allowance of £11500 is worth £2300 (that is, 20% of the allowance) to everyone who pays income tax. If it was possible to convert it to a cash payment, it could benefit many more people. …