Personal Allowance 2013 Extra Increase
Published / Last Updated on 13/03/2014
Budget Dec 2012 - Personal Allowance 2013 Extra Increase
The current personal allowance, the level of income that you can receive is currently £8,105.
This was due to increase in April 2013 to £9,205.
However, the Chancellor confirmed it will increase by an extra £235, to £9,440.
This is getting close to the Liberal Democrats target of £10,000.
In short, a couple will be able to earn a combined £18,880 tax free.
For pensioners though, the higher personal allowance for those aged 65 plus is frozen at £10,500 as is the £10,660 for the over 75s.
Back to UK Budget December 2012 Summary