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Previously on "Number of higher-rate UK taxpayers expected to hit more than 7m this year"
'Most people in the UK on low, moderate or reasonably high earnings (i.e. up to about £100k) pay less tax on their wages than their counterparts in other large developed countries, with the notable exception of the US.'
'Most people in the UK on low, moderate or reasonably high earnings (i.e. up to about £100k) pay less tax on their wages than their counterparts in other large developed countries, with the notable exception of the US.'
oh, dear, that'll upset the whiners.
This is because of the tax free allowance, 12K or whatever it is these days. They should just abolish it completely.
'Most people in the UK on low, moderate or reasonably high earnings (i.e. up to about £100k) pay less tax on their wages than their counterparts in other large developed countries, with the notable exception of the US.'
"The number of people in the UK paying income tax at the higher rate is expected to increase by 500,000 this tax year, to more than 7 million, according to official figures."
That's up from 4.4m higher rate taxpayers in 2021-22, to almost a fifth of taxpayers.
It's getting increasingly painful, especially given inflation. And we've another 3 years of this so-called 'fiscal drag' - at least.
To quote the article 'A government spokesperson said:“This government inherited the previous government’s policy of frozen tax thresholds.” '
Since when was any government bound by the policy of a previous one?
Yet again, another lame excuse from another useless government.
But the real pain is for the 30.4 million people whose income is above the £12,570 lower threshold and who pay tax at 20%.
Increasing the basic personal allowance to a more reasonable level would help those less well off and also pensioners with only state pension income. It would also reduce the number of people with whom Hector engages, allowing Hector greater capacity for improved service.
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