Tax Advice _ Tax Likely to Rise
Published / Last Updated on 11/04/2010
Tax Advice - Tax Likely to Rise
by Ashley Clark, Director
With all eyes now on who will win the general election, most people in the UK should be resigned to the fact that tax needs to rise if we are ever to reduce our levels of debt.
According to the Institute for Fiscal Studies the tax rises with the highest probability are likely to be up to 4p on the basic rate of income tax, up to 3p on both the basic and higher rate of income tax, an increase in the higher rate tax bracket to 50% from 40% and reduced personal allowances.
Those most likely to be affected are mid and higher earners not entitled to State benefits.
Our View: When tax rises are announced, take advice. The government will always create tax incentives and everyone needs to take advantage of them.
Useful links:
Contact us - Book Callback - Free Consultation - Newsletter - Money MOT - Discounts
