It is quite disappointing because there are many people who will be worst off with the scrapping the 10p band. It is bad and the latest update is that PM Gordan Brown will be coming up with tax relief for those people who are affected. That is bad news! We will have to see about it then.
Wednesday, 23 April 2008
Scrapping 10p Income Tax Band
Remember Gordan Brown's speech last year where he said that he will decrease 2p from 22p per pound to 20p per pound for personal income tax which starts from April 2008? It was a joy sheer for many but he also said that there will be no concession for the first two thousand pounds. This would mean that 10p for the first two thousand pounds will be abolished and people will be taxed 20p per pound across the board. It was devastation.