On 6th April 110,000 of the lowest paid taxpayers in London were taken out of paying tax altogether.
Thanks to the £1,000 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.
Commenting, Mary Macleod, Member of Parliament for Brentford & Isleworth, said:
“I believe it is important to lift people out of the income tax system and allow them to keep more of their hard-earned money. And so I am delighted that from 6th April, we are taking 110,000 low earners in London out of income tax altogether.”