New tax year, new tax rates
by Emma
The new tax year started yesterday and with it came the abolition of the 10% starting rate tax band and the reduction of the basic rate of tax from 22% to 20%. The higher rate, payable on income over £36,000, remains at 40%. The new personal allowance for tax year 2008/9 is £5,435. There is a new starting rate band of 10% for savings income limited to £2,320.
As usual there will be winners and losers under these changes. More information and a link to the HMRC website can be found here
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When is a tax cut not a tax cut? » PJH Law - Employment Law Blog » Blog Archive said at April 11th, 2008 at 9:26 pm
omg.. good work, dude
SkenceAccini said at September 22nd, 2008 at 7:16 am