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New tax bracket rules
investing
Posts: 34 Forumite
in Cutting tax
Hi all,
I understand that the new tax increases are due a broken system and everyone needs to 'pitch in' to fix and minimise the deficit.
I am due for an increase of about £250 increase a year on my taxes and NI.
However what I don't understand is that how come people earning about £25,000 is due for a tax cut of about £200 too?
Don't see how that is fair, it is practically increasing my taxes in order to give others a cut.
I understand that the new tax increases are due a broken system and everyone needs to 'pitch in' to fix and minimise the deficit.
I am due for an increase of about £250 increase a year on my taxes and NI.
However what I don't understand is that how come people earning about £25,000 is due for a tax cut of about £200 too?
Don't see how that is fair, it is practically increasing my taxes in order to give others a cut.
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