Income tax and pensioners

xylophone

I used to have an elderly neighbour who often chatted about her late husband. I can only assume that "patent agents" must have earned high salaries because apparently he paid tax at "nineteen and six in the pound"....that's 97.5%........ ouch!

My relative says that his grandfather used to grumble about being in the same position....

Ferro

xylophone said:

I used to have an elderly neighbour who often chatted about her late husband. I can only assume that "patent agents" must have earned high salaries because apparently he paid tax at "nineteen and six in the pound"....that's 97.5%........ ouch!

My relative says that his grandfather used to grumble about being in the same position....

Investment income surcharge in 1973 was at 90% on investment income over £2000.