Quote:
Originally Posted by katex
Certainly going to hit me Bernard. I know they are going to increase the personal allowance for income tax to £7,475 to soften the blow to the lower income earners. Saves them £170 .. but is overtaken by increase in VAT.
For me, as a pensioner over 65 .. the personal allowance is set at £9,450 anyway; this already covers no income tax being deducted from my state pension, however, now have small income and the 2.5% increase in VAT will certainly hit me and put lots of goods beyond my reach. 
At least no rise on me fags, alcohol and fuel.  |
As you say Kate, not everyone will benefit from the shift in personal allowances. But almost everyone will pay VAT.