Fecks sake - it's like National Insurance #3 - by 2019 the combined rate will be 7% within 2 years.
So, combined tax take will now be:
45% (income tax) + 2% (employee NIC) + 13.8% (employer NIC) + 3%+4% (new NICs) = 68%!
And that does not factor in loss of tax free allowance.
So, combined tax take will now be:
45% (income tax) + 2% (employee NIC) + 13.8% (employer NIC) + 3%+4% (new NICs) = 68%!
And that does not factor in loss of tax free allowance.
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