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Re: Government & Post Election Discussion
Quote:
Originally Posted by pip08456
No tax free allowances, no separate NI. Income would still exceed present without hurting anyone.
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But that would mean someone on £12,500 pa who presently pays no income tax and pays £464 in NI, would end up paying £1,250 per year, losing £65.50 per month of their take home pay (which is a fair percentage of their take home pay of £1,003). Anyone earning under £15,750 would be worse off.
Someone on £85k would pay around £27k in tax and NI pa under the current system, but under your proposed system they would only pay £8.5k - so they would gain £1,500 per month whilst someone on 1/7th of that salary loses money; doesn’t seem very fair...
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Last edited by Hugh; 29-05-2019 at 18:37.
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