Times are a little less taxing for some, says MP
The personal allowance rose to £10,000 from April 6, taking 4,692 people in South West Bedfordshire out of income tax. Taxes have been cut for more than 26 million people across the country, with over three million now taken out of paying income tax altogether.
Because of tax cuts since 2010 the typical taxpayer is now paying £705 less in income tax than they were.
Taxes will be cut even further next year when the personal allowance is set to rise again to £10,500, as announced in the 2014 Budget.
Andrew Selous said: “This tax cut is excellent news for hardworking people in South West Bedfordshire.
“This is the third time this Government has cut income tax, benefitting 42,799 people here in South West Bedfordshire, with 4,692 people now taken out of income tax altogether.
“Cutting taxes is a key part of the Government’s long-term economic plan to build a better future for Britain. These cuts mean 42,799 people are keeping more of the money they’ve worked hard to earn, giving them and their families more financial security for the future.”