cynthial
Boo
- Joined
- Oct 9, 2006
- Location
- Albuquerque
United Kingdom
Govt hikes top income tax rate to 50%
The government will increase its top rate of income tax to a higher than expected 50 percent from next year, Chancellor Alistair Darling said on Wednesday as he delivered the government's annual budget.
The tax band had originally been due to rise to 45 percent from 40 percent in April 2011 as Britain seeks to claw back lost tax revenue caused by a deep recession.
The 50-percent rate will apply to any income above 150,000 pounds.
Today's exchange rate would mean that $218,629 annual salary would qualify you for the new 50% tax rate. Holy Shit that is a lot of tax on folks who are by no means Millionaires. What do our Brit members think about this?
Govt hikes top income tax rate to 50%
The government will increase its top rate of income tax to a higher than expected 50 percent from next year, Chancellor Alistair Darling said on Wednesday as he delivered the government's annual budget.
The tax band had originally been due to rise to 45 percent from 40 percent in April 2011 as Britain seeks to claw back lost tax revenue caused by a deep recession.
The 50-percent rate will apply to any income above 150,000 pounds.
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Today's exchange rate would mean that $218,629 annual salary would qualify you for the new 50% tax rate. Holy Shit that is a lot of tax on folks who are by no means Millionaires. What do our Brit members think about this?
