Liberal Democrats pledge higher tax allowance | WDM

Twitter
Follow us on Twitter
MENU
14
August

Liberal Democrats pledge higher tax allowance

In their latest manifesto plans, the Liberal Democrat party have suggested raising the income tax personal allowance to £12,500.

In addition, they would also seek to increase the amount earned before an individual has to pay National Insurance.

Danny Alexander, chief secretary to the Treasury, said: ‘It was on the front page of the 2010 Liberal Democrat manifesto and we have fought to keep it on the agenda at every budget. By April next year we will have delivered a tax cut to over 26 million people worth £800 a year to a typical basic rate taxpayer and taken over three million out of tax altogether. Now we want to go even further’.

He added: ‘By cutting tax in this Parliament, cutting tax further in the next Parliament, and then moving on to National Insurance, we can make sure that over the course of a decade we shift the balance in the tax system – a generational shift – to help people in work’.

7 Questions you must ask an accountant
How To Grow your business by 46.4% - Special Free Whitepaper
To get the free whitepaper, simply enter your name and e-mail address below and click the Get FREE Whitepaper button. You will receive an email shortly with your FREE Whitepaper pdf from our team...

Fields marked with an * are required

By submitting this form you agree to receive information via email newsletters about products and services from WDMCA which we think may interest you. You can opt out of receiving these newsletters by clicking the unsubscribe link in newsletters we send.

Download our FREE iPhone app

Testimonials

From the opening of our store to the eventual sale of four stores seventeen years later, WDM have provided invaluable assistance all the way along. They are more than just an accountant to us and we couldn't speak highly enough of them.

Pat McKenna - McDonalds Franchisee
Sign up to our newsletter
Oakfield House, 378 Brandon Street, Motherwell ML1 1XA        t: 01698 250 251        f: 01698 250 261