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Originally Posted by Ramrod
Has he? There may be hope for me yet!  |
Don't go buying that Ferrari just yet...
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Quote:
The Chancellor announced the following changes:- removing the starting rate and cutting the basic rate of income tax from 22% to 20% in April 2008, creating a simpler structure of two rates: a 20% basic rate and a 40% higher rate;
- increasing the upper earnings limit for national insurance by £75 a week above indexation in April 2008 and, from April 2009, fully aligning it with the higher rate threshold - the point at which taxpayers start to pay the higher rate of income tax, further simplifying the system;
- raising the aligned higher rate threshold and upper earnings limit by £800 a year above indexation in April 2009
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Note the 10% starting rate will be removed...