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Tax: Personal allowances to rise

TomB

TomB

New Member
it was on the news last night that the goverment are taking steps to remedy the 10p tax fiasco:

The Chancellor has announced that everyone's tax-free Personal Allowance for 2008/09 (i.e. this tax year) will rise
 
Scottish Business Owner

Scottish Business Owner

New Member
Let's also not forget that the government is borowing the money to pay for this. I wonder who'll end up paying for that in the future?

I think this is nothing more than a very expensive PR stunt to try and court favour with voters. Labour is at an all-time low in the opinion polls dont forget
 
selfemployed

selfemployed

New Member
Be careful of the "no change" con which can be very costly indeed!

Normally the income tax bands are increased annually by the rate of inflation so in real terms everything stays the same. The Scottish government recently took control of income tax bands and did not change the higher rate. On the surafce this does not look like a big issue but it drags more people into the higher tax band due to even minimal wage rises. Very clever slight of hand and not exclusive to the Scottish government :)
 

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