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did this actually make it into law?

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    did this actually make it into law?

    http://business.timesonline.co.uk/to...cle5219530.ece

    Top earners face higher taxes as Gordon Brown and Alistair Darling reduce a borrowing bill that will hit nearly £120 billion next year.

    The Chancellor is expected to announce a new top rate of tax of 45 per cent that will apply to those earning more than £150,000.

    The new rate – which is likely to come into effect immediately after the next general election – is expected to be among the deferred tax rises announced to show how the Treasury intends to rebalance the books. It will affect nearly 300,000 people and raise about £1.2 billion.



    Was this implemented? If so, any links to the official documents?

    #2
    I don't know if it actually made it to the statute books, but there was also talk about reducing the personal allowance to zero for those on a taxable income of more than 100K.

    The latter was woefully reported by the press at the time; they assumed that gross income = taxable income and ignored tax bands, so got their figures quite wrong.
    Behold the warranty -- the bold print giveth and the fine print taketh away.

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      #3
      http://www.hmrc.gov.uk/rates/it.htm
      Bazza gets caught
      Socrates - "The only true wisdom is in knowing you know nothing."

      CUK University Challenge Champions 2010

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        #4
        Originally posted by cailin maith View Post
        So no mention of a 45% rate then?



        Stick the kettle on love.

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          #5
          would you be in that tax band then?
          This default font is sooooooooooooo boring and so are short usernames

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            #6
            Originally posted by MPwannadecentincome View Post
            would you be in that tax band then?
            No. But I have several friends that would fall into this with bonuses added to their salaries.

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