[MNWC]

Hi

just what is the so called 10p tax rate.

I Know its now abolishid but how will it affect me

If what i read in the press is true i will be worse off the next financial year, is this true

Marcus...

[SherwoodCleaningSe]

Last year the first £2230 of taxable income was taxed at 10% and then after that at 22%.  This year you get taxed at 20% on taxable income.  So the 22% has dropped to 20% but they've removed the 10% rate.  I think if you make anything up to 18K profit and don't get any tax credits then you'll be slightly worse off.  If you earn over 18K then your better off due to the drop to 20%.

Simon.

[windowwashers]

it is a tax on the poor  :, theres me thinking they are meant to help the less well off.

funny you never hear of tax for the rich, I hate politics and are Gov need a good kick up the backside or get kicked out before they more damage to anything else .

[MNWC]

i know this is not wc related but i wont be voting for them next time ! (sorry mods)

Marcus

[windowwashers]

i know this is not wc related but i wont be voting for them next time ! (sorry mods)

Marcus

nor will I

[steve m]

they allways tax the poor and leave the rich. When was the last time you saw a poor taxman

[poleman]

The rich are smarter than the politicians. They always have been !

Thats why I went Ltd, so I didnt pay the top rate of tax (40%) being a shareholder I pay myself a dividend and only pay 20% corporation Tax

[Tosh]

If you think this is unfair, then just declare a slightly lower turnover and keep your expenses the same.

Then it'll balance out as if the 10p threshold still existed.

Doh!

[MNWC]

If you think this is unfair, then just declare a slightly lower turnover and keep your expenses the same.

Then it'll balance out as if the 10p threshold still existed.

Hmmm i do that most years doh (Not really)