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Autumn Statement: Personal allowance up as gov't closes in on £10k

by Jun Merrett on Dec 05, 2012 at 13:36

Autumn Statement: Personal allowance up as gov't closes in on £10k

Chancellor George Osborne has said Britain is within touching distance of the £10,000 personal allowance having increased it by a further £235 for April 2013.

The total increase for personal allowance for next year will be £1,335 which Osborne said was the highest cash increase ever.

This means from April next year people working in Britain can receive £9,440 before paying income tax, compared the £9,205 target the coalition government had initially set for April 2013 in this year's Budget.

3 comments so far. Why not have your say?

Richard Hardy

Dec 05, 2012 at 13:41

Why not just make it £10,000 now and get it over and done with. The money will probably be spent on goods that attract VAT so the Government will receive its 20% tax take anyway.

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Nik Proctor

Dec 05, 2012 at 14:17

You're obviously not from HIS planet

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Dec 05, 2012 at 14:40

Why not get rid of age allowance now and bring it all in line - surely the reduction in age allowance would balance out most of the loss from a £10K PA?

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