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Showing posts from April, 2023

My suggestion

HEADLINE CHANGE SUGGESTION: Income Tax : Personal Allowance £0 to £15,000 at 0% [now 0% up to £12,570] Basic Rate £15,000 to £60,000 at 20%  [now 20% from £12,571 to £50,270] Higher Rate £60,000 to £100,000 at 40%  [now 40% from £50,271 to £125,140] Additional Rate £100,000 to £500,000 at 50%  [now 45% over £125,140 ] Extra Additional 1 Rate £500,000 to £1,000,000 at 60% Extra Additional 2 Rate 2 Over £1,000,000 at 70% National Insurance : Personal Allowance £0 to £15,000 at 0% [now £0 up to £12,570] Basics Rate £15,000 to £60,000 at 10% [now 13.25% then 12% between £12,571 to £50,270] Higher Rate £60,000 to £100,000 at 20% [now 3.25% above £50,270] etc. as per Income Tax... Extend paying of N.I. to Pensioners in work. Even better get rid of separate National Insurance & merge with Income Tax as that's what it's become, it will save a huge amount of administration so saving us Tax! Capital Gains Tax : Raise from £3,000 PA to £5,000 PA How is there a p...

BBC article Tax & NI

https://www.bbc.co.uk/news/explainers-63635185 https://www.bbc.co.uk/news/business-65398736