Bristol Eye Tax details

blackbearbosin

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.

olivetti

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.pdf

heretolearn_2

Yep, basic rate is currently 20%.

Horseunderwater

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.