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Bristol Eye Tax details
blackbearbosin
Posts: 38 Forumite
in Cutting tax
Just picked up a magazine called Bristol Eye in which Martin has an article entitled 'Does the taxman owe you £3,600 too?'
Part of the the article states "You will pay 20% tax on the portion of your income that is between £1 and £37,400 above your personal allowance. This is called basic rate tax"
It looks as if the magazine has misquoted Martin as I have been paying 23% basic tax for years.
Lets hope nobody treats this article as gospel.
Part of the the article states "You will pay 20% tax on the portion of your income that is between £1 and £37,400 above your personal allowance. This is called basic rate tax"
It looks as if the magazine has misquoted Martin as I have been paying 23% basic tax for years.
Lets hope nobody treats this article as gospel.
0
Comments
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From your quote it sounds like Martin is correct. Basic rate has not been 23% for about 10 years:
http://www.hmrc.gov.uk/stats/tax_structure/table-a2a.pdf0 -
Yep, basic rate is currently 20%.Cash not ash from January 2nd 2011: £2565.:j
OU student: A103 , A215 , A316 all done. Currently A230 all leading to an English Literature degree.
Any advice given is as an individual, not as a representative of my firm.0 -
2011 = 20%
2010 = 20%
2009 = 20%
2008 = 10% and 22%
Last time it was 23% was 1999/2000
http://www.scopulus.co.uk/taxsheets/uktaxrates1999-0.htm That link provides the rates going back to then.0
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