Quote:
Originally Posted by entwisi
you are effectively increasing the tax on being successful in your career. what a brilliant way of encouraging people.
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I take it you wont be encouraged by the Government taking more money from you?
Basic rate: 20% £0-£37,400
Higher rate: 40% Over £37,400
Your tax already doubles then when you reach £37,400. An extra increase of 5% makes the gap even bigger. It does kind of make you not want to better yourself doesn't it?
I think the 40% band should be moved a lot higher than £37,400 if they are going to increase it to 45%.