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Personal Allowance 2010/11
juicyjude
Posts: 670 Forumite
Probably a silly question but as I am a non tax payer I just wondered if anyone knew if the personal allowance with regard to tax is raised as a matter of course every year, or does it depend on the kindness of our Mr Darling!
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Comments
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While many chancellors have indexed the threshold in the past, this is by no means guaranteed, especially as the time to start paying bills is approaching.
He has it within his right to reduce it (and blow away any last chance of winning the election should he do so!), freeze it or increase it.
I believe there is a 10% tax band for savings interest only should your savings interest just take you over the tax threshold.0
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