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Is 27K annual salary a low income which won'e help one through recession?
Comments
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blunt_crayon wrote: »am i right in thinking that the 40% tax applies to everything over the threshold, which i think is about 36k? it doesn't apply to the whole salary once you cross that threshold, like stamp duty does?
Correct, Current level is low £40's...by the time personal allowances are taken into consideration.
It just seems silly to work and lose 40% of it.....As I don't have huge outgoings that's just fine for me.0 -
well, stamp duty doesn't make sense to me...plus ça change........0
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Correct, Current level is low £40's...by the time personal allowances are taken into consideration.
It just seems silly to work and lose 40% of it.....As I don't have huge outgoings that's just fine for me.
That’s why some people claiming housing benefit don’t work they can get less than 20p out of every pond they earn.0 -
Those on benefits, or with top up benefits, won't see any difference unless things they buy go up significantly in price.
It's those people whose earnings drop and who don't get top up benefits, that will suffer most. e.g. if you were single and earning £16k and are asked to take a 10% pay cut. Or if you were single and lost your job and just got LHA/council tax and £60/week.0
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