Abolition of the 10p Tax Rate

sinister agent · **Joined:** 30th Mar, 2008 **Posts:** 7046

Dudley wrote:

PR's biggest problem is that it will require a majority to vote it in, and it never benefits a party with a majority.

If we get it, it'll be a government, with a majority, that knows they're doomed in an imminent general election.

Aye, the only possibility (barring an uprising, which won't happen while everyone's so fat) is that some party that knows it's got no chance at the election has an attack of conscience (or, more cynically, just wants to SECURE A LEGACY OMGZZ HISTREE WILL JUJ) and manages to cram it through the box before they bow out.

BikNorton · **Joined:** 30th Mar, 2008 **Posts:** 10079

ChocoboOfDoom wrote:

I understood that the tax-free personal allowance had been raised by £200 a month, thus cancelling out the abolishment of the 10% rate. Is this not the case?

Nope, while the tax-free allowance has increased £210 this year, that's inflationary - looking at listentotaxman.com it's pretty much gone up £200 a year for the last 5 years or so.

Dudley · **Joined:** 30th Mar, 2008 **Posts:** 8679

Equally the 40% limit has been pretty static for a long, long time, neatly catching more and more perfectly normal blokes in its net, especially in the south.

ChocoboOfDoom · **Joined:** 30th Mar, 2008 **Posts:** 279

BikNorton wrote:

ChocoboOfDoom wrote:

I understood that the tax-free personal allowance had been raised by £200 a month, thus cancelling out the abolishment of the 10% rate. Is this not the case?

Nope, while the tax-free allowance has increased £210 this year, that's inflationary - looking at listentotaxman.com it's pretty much gone up £200 a year for the last 5 years or so.

Ah. Thanks for explaining. (Obviously I meant £200 a year, not month in my original post, natch).

Being self-employed, I can expect to earn between £18-20k a year. Am I going to be screwed, or not? It's going to be fun finding out!

Be Excellent To Each Other

Abolition of the 10p Tax Rate
Explain it to me, please

Who is online

Be Excellent To Each Other

Abolition of the 10p Tax Rate Explain it to me, please

Who is online

Abolition of the 10p Tax Rate
Explain it to me, please