How does the new tax rate affect you?
 

This year it's up (slightly), but next year I'l be bringing in 9% less.

I can't really get my head around why they're nailing us on low incomes

check it out yourself
http://www.binaryincome.com/ukbudget.php

Re: How does the new tax rate affect you?
 

I'm better off this year than last, but next year I'm effectively taking a ?1300 pay cut...

What the ****!

Re: How does the new tax rate affect you?
 

Bloody hell i get a rapping in 2009/2010
Yet everything else will go up, tax, petrol, other bills.......

How it can be justified I have no idea.

Crazy really.

I will try not to let the politics of this crazy country wind me up :smt088:smt056


EDIT: I think I may start to claim my back hurts and stop working, then have 6 kids and start labouring cash in hand instead of trying to earn an honest living. :( Its quite clearly the way forwards.

Re: How does the new tax rate affect you?
 

same here more money in this year but less in 09-10

Re: How does the new tax rate affect you?
 

The governments position really is untenable.

They either have to accept that they're responsible for the rises in the level of inflation, or massive tax hikes above said level. Sigh.

Re: How does the new tax rate affect you?
 

yep. im taking a pay cut to. 11% less

Re: How does the new tax rate affect you?
 

It's amazing that the tax cut for the higher earners is being subsidised by the >?22k earners.

Sickening really. A 9% wage cut is just too much, especially considering I didn't get a raise either.

Re: How does the new tax rate affect you?
 

There's a tax cut for higher earners? :shock:

edit: You're right, but it's higher than 22k I can tell you that.

Re: How does the new tax rate affect you?
 

I thought the 10% rate was scrapped from 2008-2009 tax year not 2009-10 as that site says?

Re: How does the new tax rate affect you?
 

certainly looks like it. try putting 60k into the calculator