Lamport Bassitt Solicitors - Legal News - Lib Dems announce new tax plans


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Lib Dems announce new tax plans The Liberal Democrats have spoken out in favour of alterations to the UK's tax system which, they say, would make it fairer. If they are elected to power following the general election this year, they would increase the threshold at which individuals begin paying income tax from its current level to £10,000, it said. According to the party, this would mean the average person's bill would fall by an annual sum of £700. In addition, 3.6 million consumers would no longer have to pay income tax at all. The party's Vince Cable - who is the MP for Twickenham and the Treasury spokesperson - said it is "high time" the country introduced fairer tax rules. He went on to state: "The Liberal Democrat plans are the most radical, far reaching tax reforms in a generation and embody everything that we stand for: fairness, protecting the environment [and] rewarding hard work." Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings 17/4/2012 - Further regulation to encourage family mediation: justice minster More Individual Legal Services News