Is the PAYE tax coming down to 20% ?

maveli

Are they reducing the tax to 20% from 22% from this year OR is it just a proposal ?

Thanks

RayWolfe

This year from 6th April.

sdooley

As I understand they are reducing tax to 20% but abolishing the 10% band so for most people it will make no difference.

CLAPTON

yes it is coming down to 20% but the 10% band is being abolised (except for savings)

maveli

Thanks for the replies

sdooley wrote: »

As I understand they are reducing tax to 20% but abolishing the 10% band so for most people it will make no difference.

I thought we don't need to pay any tax for £0 – 2,230 which we currently pay 10%

claireabelle_2

the 10% band will still exist but for £0, and then that £2,230 will be taxed at basic rate. Check HMRC rates and allowances on their website.

m_c_s

Just another con from Brown. But he has hit low earning people which is just disgusting. I suspect most middle earners wont complain though.

andan

Thanks mitchaa for your helpful post, however for myself, who earns less than £15,000 its rather depressing. I'm fed up with paying enough money out as it is, never mind increases in taxes, especially when it hits lower workers like myself.