Abolition of the 10% Tax Band and reduction of Standard rate to 20% [Merged]

Jenny_S

very true, I have no children and only earn about 11k, I shall be asking for a pay rise in April.

dunstonh

Employers who do not offer occupational pension schemes are possibly going to hold back on pay rises as the NPSS is due for introduction in 2012 and that will see all employers forced to pay into your pension.

isasmurf

LizD wrote: »

Maybe, but not much use for low earners that don't have a family.

What's a family got to do with claiming WTC? You don't have to have children to be eligible for WTC.

PasturesNew

Hitting hard working singles again.
AGAIN
AGAIN!!!!

There's nothing left to squeeze out of us.
We're all done in.
We give up.

PasturesNew

isasmurf wrote: »

What's a family got to do with claiming WTC? You don't have to have children to be eligible for WTC.

No, but the difference between minimum wage and top ups you might get under WTC is so small there's few that are eligible.

flashnazia

It's obvious to me that Brown thinks he can get away with it because he thinks that low earners are all ignorant buffoons who won't complain and who don't vote.

Higher earners aren't complaining because they are better off!

Makes you want to have kids for the tax credits!

Billionpounddreamer

icefall wrote: »

thanks for the reminder op

I don't know what to do, it just does not seem fair somehow:mad:

is Gordon Brown trying to put people off working or something??

LOL. Definately.
With the abolition of taper relief, increase in CGT (for smaller entrepreneurs) the rise in taxes for smaller earners (as stated before) and even down to less known things like the plans to abolish IBA's, it seems this government is intent on strangling the entreprenuerial society it claims to support.

But instead, it is the rich who benefit. Is Brown a Tory in disguise?

I don't know if it's just me, but there is something wrong when a party set up to protect the labourers of this country actually punishes them

EdInvestor

I suppose we should just mention that along with the abolition of the 10% band, basic rate tax is also being reduced from 22% to 20%.

And when you read about all the fuss about CGT, you might not even notice that it's being reduced from a max of 40% to a flat rate of 18%....

...or that the whole point of the changes in the IHT allowances was to make it easy for all the families who were only in it because of the rise in house prices to stay out without having to go through all sorts of expensive legal malarkey....

But this is probably not relevant to the rant.....:rolleyes:

LuciferTDark

Brown is a politician, All politicians are liars, thieves & backstabbing scum who should never be trusted or believed.

Iamthesmartestmanalive

The OP is incorrect someone earning 19k will actually pay £49.90 less in tax next year:D