Currently the higher rate of tax is 40% on earnings up to £150,000 and the additional rate of 50% tax on anything over that amount. This was only introduced over the last few years. I'm fairly certain there was no additional rate of 50% before, say, 09/10. Could be slightly earlier than that.
EDIT:
Quote:
Originally Posted by Trollheart
You're talking about England/Britain, right? Cos over here in Ireland we've been flattened. Reductions in child benefit, a property tax, evrything going up...
This is our sixth "austerity budget", and though I personally am very lucky in that I have no kids/don't drink/smoke/have a car/job/own my house, and so will be very minimally affected, I'd hate to be someone with a family and a mortgage in these already incredibly hard times! Quite savage all round really.
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I was talking about the UK, yeah. Not Ireland. I also wasnt talking about cuts in public funding and state benefits, which I can imagine are being cut heavily. I was talking about someone like myself who doesn't have any benefits and just has one source of income, which is a salary taxed via PAYE. Someone in my circumstances isnt really much worse off than a few years ago, it doesnt seem. The increase in Personal Allowances may or may not be exactly proportionate with any budget increases, I don't know, but I cant imagine any difference is huge.