How does the new tax rate affect you?

Originally Posted by graemepaterson

You might not be far wrong.....they know they have stuffed up badly, they know that more than likely david cameron will be taking over when gordon finally gets off his **** and allows people to vote for what they want.......lets make life difficult for him.

Originally Posted by Flamin_Squirrel

Alistair Darling probably doesn't know what a recession is, unless Gordy's told him. Darling is such a wretched spineless character (much like most Labour ministers), so obviously Browns puppet.

In fact I can imagine Gordan saying 'come along Darling', Black Adder stylee.

So time to batten down the hatches then?!

[glade]

Originally Posted by gettin2dizzy

Different tax year

This year and last year don't match, so the prediction for 09/10 could also be innacurate.

thieving robbing gypsy bas#ards!!!!

[embee]

Why has this suddenly become a story? It was well known when Gordon F. Brown announced it a year ago, but no-one could be ar$ed to make a fuss about it. Typical useless opposition/press/media. Bunch of wastrels.

Oh, and let's get it clear, they have not abolished the 10% tax rate, it has been increased to 20%. The 22% rate is cut to 20%, and the 10% rate is increased to 20%, get it?

Of course the MP's have to get by on only 20k towards their second mortgage and 4k for taxis to do the supermarket shopping, all out of our pockets.

Hand me the flame thrower ................................

I'm not convinced that calculator is right actually...

Originally Posted by embee

Oh, and let's get it clear, they have not abolished the 10% tax rate, it has been increased to 20%. The 22% rate is cut to 20%, and the 10% rate is increased to 20%, get it?

Lol, I am hoping you don't mean that seriously? I can't see how you can not say the 10% tax rate is not being abolished... bit like saying "We have not abolished benefits, we have simply changed the rate to 0%"

[the_lone_wolf]

Originally Posted by embee

Oh, and let's get it clear, they have not abolished the 10% tax rate...

**crowd**

OH YES THEY DID

**crowd**

what was the 22% band is now 20%, the 10% is gone, done away with if you will

definition of "abolished" - " To do away with"

a little on the nose...

Apologies if this has already been pointed out but the sums are b*ll*cks...

Tax allowances have gone up for 2008/09 and will (almost certainly go up for 2009/10). The 10% rate has been abolished from today which does mean (I understand) that some low earners will pay more income tax...

just means I,l be worse off. don.t know how someone eanning under ?15000 pa is supposed to live.Im becoming more n more disalusioned with this country

[embee]

Originally Posted by muffles

Lol, I am hoping you don't mean that seriously? I can't see how you can not say the 10% tax rate is not being abolished... bit like saying "We have not abolished benefits, we have simply changed the rate to 0%"

Of course I mean it.

It's simple, last year you could earn your allowance, then some was taxed at 10%, then some at 22%, then the rest at 40%.

Now you earn your allowance, then what was at 10% is now at 20%, then what was at 22% is now at 20% etc.

The bit that used to be taxed at 10% is now taxed at 20%, What part of that equates to it being "abolished"? It's been increased to 20%.

If the old rate was 10% and the new rate was 15% you wouldn't say it's been abolished, you'd say it was increased. The fact that it happens to be the same as the next rate up doesn't mean it's been "abolished".

I just hate politicians, lying devious scheming spiteful thieving robbing gravy-train-riding trough-snouting ................................................