Welfare to work not

Posted by Redazione on Mar 23, 2007 in Senza categoria | 0 comments

In otherwords, if you are on tax credits the cut in income tax from 22 to 20% is cancelled by the increase in tax credit withdrawal from 37 to 39%, plus you get the increase from 10-20% with the starting rate abolition. The increase in child tax credit by £150 if you have children helps and the rasing of start of withdrawal from £5220 to £6420 also offsets the rises to the extent that the very low paid are a little better off, but this is no giveaway for the low paid. They are still taxed at 70% for every extra pound they earn (20% income tax, 11% national insurance, 39% tax credit withdrawal).

A real incentive to work, eh?

Capito? Di tutto e di più,qui.