Who the fuck came up with this decision to charge the same rate tax the people between 12,570 and 50,270
Band....................Tax rate .........Taxable income
Personal allowance...0% ................Up to £12,570
Basic rate .............20% ...............£12,571-£50,270
Higher rate ............40% ..............£50,271-£125,140*
Additional rate .......45% ...............Over £125,140
We really have become a third world nation.
It is comforting to know that the people who removed the 10% tax rate are in power today. No wonder they are withdrawing the winter allowance from 11 million pensioners. Whilst I accept that there are some very wealthy pensioners that do not need this money, the vast majority are under the poverty line and do need it.
The abolition of the 10% tax band came into effect at the start of the 2008 tax year and was the source of considerable criticism.