Top Rate of Tax to be Reduced in Budget ?

The Chancellor has claimed figures show a rise in the tax-take form top earners since he reduced the top rate of income tax from 50% down to 45%. The Shadow Chancellor claims the figures have been distorted and calls them “fantasy figures”. It may be this is preparing the way for a tax cut for the richest few in the budget on 16th March. But with so much political spin coming out of Westminster it hard to work out reliable predictions. The economy is weak and tax receipts into HMRC are lower than planned. There have been cuts in some areas. But the Government still has taxpayers’ money to lavish on its own pet projects.

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s