Millions More Higher Rate Tax Payers
Published / Last Updated on 30/01/2011
Millions More Higher Rate Tax Payers.
According to The Institute for Fiscal Studies (IFS), it estimates that three-quarters of a million people will become higher-rate taxpayers in April this year and the average household will be £200 a year worse off as a result of the benefit cuts and tax rises that take effect on 5 April.
However around 500,000 people will no longer pay income tax when the personal allowance is increased in April.
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