Thanks to the £1000 increase in the income tax personal allowance announced at last year’s June Budget, 880,000 of the lowest income taxpayers will today be taken out of tax altogether. Next year a further 220,000 will be taken out of tax.
In total the Government’s increases in the income tax allowance, including those coming into effect next year, will take 1.1 million out of tax altogether, and benefit 25 million people by up to £326 per year.
It is really important to lift people out of the income tax system and allow them to keep more of their hard-earned money. As of today we are taking 83,000 low earners in the Eastern Region out of income tax altogether. This will be very welcome news to many hard working families across Great Yarmouth who will see a real change in their tax bills due to this change.
6th April 2011