Tel: +44 (0) 2079890750

Global Recruitment Experts

Access to millions of CV's and
thousands of international jobs

Personal Allowances up £1000 in Today’s Budget.

It was announced in today’s Budget that the personal allowance for under 65s will be increased by £1,000 to £7,475 in the 2011-12 tax year.
The personal allowance is the amount at which no income tax is payable.
As a result, the government estimates that the 880,000 lowest income taxpayers will be removed from paying income tax altogether, and 23 million taxpayers will benefit by up to £170 per year.
The Conservative/Liberal Democrat coalition government has the objective of raising the personal allowance to £10,000.
This is a nice headline catching piece of news and a sop to the Liberals but in reality it is no more than an average of £0.10p an hour for the average worker, welcome but  unlikely to offset the additional 2.5% VAT which kicks in in January 2011 ahead of the tax cut.


Author: Chris Slay

Skills Provision will allow our articles/quotes to be reproduced on other formats as long as full accreditation is given.