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6837.92 6819.29 0.27% 04:35

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

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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.

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