Effects of "10p" starting rate Tax Changes.

Submitted by John on Sun, 20/04/2008 - 3:23pm

Posted in

Start: 00/00/

EFFECTS OF TAX CHANGES

Winners:

* Most people/ with incomes of £18,000+

* Under £18,000 but aged 65+ and therefore eligible for higher personal allowances

* Under £18,000 but with young children and therefore eligible for child tax credits

Losers:

* Under £18,000 and ineligible for working tax credits because under 25

* Retired early and therefore ineligible for higher personal allowances

* Part-timer working insufficient hours to qualify for tax credits

Different personal circumstances may affect final amounts

Source: PWC & BBC.

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