it's one of those stupid reverse loopholes, like if you earn £100 - £120k, you pay a higher rate of tax than someone who earns £120,001 upwards
typical fucked up labour policy that makes no sense.
( rachelswipe with a fork, Thu 15 May 2014, 15:32, 2 replies, latest was 11 years ago)

That awful Labour party
Luckily the Tories removed it when they came into office four years ago, yeah?
( tangledupinblue hairy badge with moving eyes, Thu 15 May 2014, 15:35, Reply)

they had enough shit to clean up, i guess

( rachelswipe with a fork, Thu 15 May 2014, 15:37, Reply)

I don't think you understand how income tax rates work.

(dozers, do fuck off ur a nob m8, Thu 15 May 2014, 15:36, Reply)

which bit of that do you think is incorrect?
www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10828657/Tax-system-flaws-leave-professionals-paying-60-per-cent.html
( rachelswipe with a fork, Thu 15 May 2014, 15:36, Reply)

the 'higher rate' is only on the 20k between 100 and 120.
Someone on, say, 140 will pay 20% on the first 42 or so, then 40 on the next bit up to 140 (assuming no pension conts). At no time is 60% the marginal rate or even the rate on whole income.

The telegraph are misleading you.
(dozers, do fuck off ur a nob m8, Thu 15 May 2014, 15:41, Reply)

but they still earn more and yet pay tax at a lower percentage
this is the bit that does not make sense.
( rachelswipe with a fork, Thu 15 May 2014, 15:51, Reply)

no, the rate is not lower.
Do the sums.
(dozers, do fuck off ur a nob m8, Thu 15 May 2014, 15:53, Reply)