Budget 2007
Mar. 21st, 2007 02:42 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ewx[Poll #951035]
My back-of-the-envelope calculation suggests that the break-even point is around £18,600: you win by about 2p on every pound you earn above that, and lose below it.
There are benefits changes at the bottom end which presumably ameliorate the doubling of 10% rate to some extent (e.g. working tax credit) but I'm afraid I don't know how those benefits work, so if you're affected by those you'll have to work it out yourself.
(no subject)
Date: 2007-03-22 12:17 pm (UTC)No, I don't think that's right. Under the old rules, from a marginal pound I paid 22p tax and 11p national insurance and 37% of 67p tax credit withdrawal. Under the new rules it's 20p tax and 11p NI and 37% of 69p withdrawal. I think I come out ahead by a penny and a quarter in a pound.
(no subject)
Date: 2007-03-22 12:32 pm (UTC)(no subject)
Date: 2007-03-22 12:36 pm (UTC)