Personal tax allowance to rise to 10,000 pounds
LONDON (Reuters) - The government will raise the personal tax allowance to 10,000 pounds in 2014-15, a year earlier than expected, Chancellor George Osborne said on Wednesday.
The coalition government had previously pledged to raise the threshold before people starting paying tax on their income to 10,000 pounds before the end of this parliament in 2015.
"Almost three million more of the lowest paid will pay no income tax at all," Osborne told parliament in his budget statement. "It is a historic achievement for this government."
- Tweet this
- Share this
- Digg this
- Malaysia air probe finds scant evidence of attack - sources |
- Search widened as Malaysia air probe finds scant evidence of attack |
- Exclusive - Chinese raw materials also found on U.S. B-1 bomber, F-16 jets
- Voters more receptive to UKIP than polls show - study
- El Salvador ex-rebel's lead 'irreversible,' rival wants recount