March 20, 2013 / 1:47 PM / in 5 years

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.

Some British sterling money in coins and bank notes is seen September 2, 2005. BANKG REUTERS/Catherine Benson

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.”

Reporting by Peter Griffiths; Editing by Guy Faulconbridge

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below