Pre Budget: Tax rises for millions

edited 9 December 2009 at 3:00PM in Cutting Tax
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Former_MSE_GuyFormer_MSE_Guy Former MSE
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edited 9 December 2009 at 3:00PM in Cutting Tax
This is the discussion thread for the following MSE News Story:

"Plans have been announced for increased National Insurance contributions and higher taxes for larger earners ..."

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  • edited 9 December 2009 at 3:45PM
    Premier_2Premier_2 Forumite
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    edited 9 December 2009 at 3:45PM
    Meanwhile, more people will pay higher rate tax in 2012/13 because the earning limit above which you pay 40% rather than 20% duty will be frozen then. This limit usually rises every year in line with earnings.

    Have earnings risen this year? I know they rose 2% in the year to April 2009 (down from 4.5% in the previous year)

    Apart from bankers, I keep reading that many are suffering pay freezes or even pay cuts this year.

    Perhaps the tax threshold should therefore have been lowered this year in line with earnngs, and maintaining it where it is is effectively a tax cut? (that depends on the answer to my first question)
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • Fanbloodytastic!!! So from 2011 I will have to pay anothother 2% tax ontop of my basic rate just to cover NI!! I sometimes wonder what Im paying NI for anyway, I have BUPA, which Im taxed on. Why do we not just become a communist state? Lets all hand over everything to the government, all earn £100 a week no matter what we do and let that be an end to it!.. I know what I would want to do... Become a full time dole sucking scum bag... Lol, oh well, back to work I go!!
  • MikeyorksMikeyorks Forumite
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    Ah ...... but Bingo duty has been dropped from 22% to 20%. Pleased to see the Chancellor focusing on the main issues!
    If you want to test the depth of the water .........don't use both feet !
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