New tax cut to make people in Skipton & Ripon more financially secure

Julian Smith, Member of Parliament for Skipton and Ripon, has welcomed a new tax cut for people across the constituency.

From April 2015, the personal allowance will go up to £10,500 cutting taxes nationwide for 25 million people and taking 290,000 out of paying income tax altogether.

In the Skipton and Ripon constituency, around 37,000 people will benefit while around 500 will no longer have to pay income tax from April 2015.

Rises in the personal allowance since 2010 mean that by April next year a typical basic rate taxpayer will be paying £805 less in tax than they would have been, with 3.2 million people taken out of income tax altogether.

Julian said:

“This tax cut is excellent news for hardworking people across the Skipton and Ripon constituency meaning lower taxes for tens of thousands and hundreds taken out of tax altogether.

“Supporting individuals to keep more of the money they’ve worked hard to earn has been a priority of this Government, giving them and their families more financial security for the future and more money to spend in local businesses boosting our economy.”