Quote:
Originally Posted by jfman
It only applies to the amount above the threshold which (in tax terms) is described as marginal tax.
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I'm perfectly aware how it works, since I have to pay it.
Quote:
Originally Posted by jfman
National insurance also lowers for income above the threshold.
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Yes, by 6%, less than half the tax rise. In addition, NI isnt paid on all income, tax is. So the "saving" is even less.
Marginal .. yeah right.
The definition of Marginal =
minor and not important.
Just becasue they call it some dumb name, doesnt make it correct.
