The top rate of income tax of 50% for incomes over 150,000 pounds ($168,390.00) a year was introduced in April 2010. The Conservative-led government of David Cameron cut the rate to 45% from April 2013. The finance ministry said getting rid of it would cost about 2 billion pounds a year, a fraction of the total 45 billion pounds in tax cuts in the mini-budget. Several Conservative lawmakers deplored the timing of the move amid a cost-of-living crisis. Many economists said it would do little to boost growth. For many investors, the decision suggested a shift away from sound management of the budget, the government said in its mini-biodiodial budget. Read more from this article on . . .
[su_button url=’https://www.reuters.com/world/uk/uks-top-tax-rate-what-is-it-why-does-it-matter-2022-10-03/’ target=’_blank’ style=’ghost’ background=’#010066′ color=’#010066′ size=’2′ wide=’no’ center=’no’ radius=’auto’]Read more at www.reuters.com[/su_button]
By
By
By
By
By
