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tax con by the chancellor
sanfly
Posts: 431 Forumite
in Cutting tax
Unless i have my figures wrong the low paid are conned again, if you check out the new income tax rates payable from 2008 and you have an income below about £12500 p.a, (say people who have taken early retirement on a small pension) the abolition of the 10% band coupled with the reduction to a 20% band will cost you extra in income tax, if you earn above this you will be better off, how can he justify hitting the lower paid. Hope my calcs are wrong!!!!
sanfly
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Where have you been for the last couple of months? That was discussed on the day!
However it assumes allowances which are not announced until November.0
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