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<p>Budget 2018 announced that the Government will meet its commitment one year early,
increasing the Personal Allowance to £12,500. This is an increase of over 90% in less
than a decade, and means that in 2019-20 a typical basic rate taxpayer will pay £1,205
less in tax than in 2010-11.</p><p> </p><p>It is important to remember that National
Insurance contributions (NICs) provide access to social security benefits and are
critical to the Government’s ability to fund the NHS and contributory benefits, including
the State Pension.</p>
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