By 2033, one in three of us will pay 40p tax rate

Tax Saving Accountants

28 Jul 14

By 2033, one in three of us will pay 40p tax rate

In its latest forecast, the OBR said that more than 9 million people could be landed with the 40 per cent tax rate, with a further 1.7 million losing 45% of their earnings.

This is on the assumption that their respective thresholds continue to rise along with inflation.

In an interview with The Telegraph, the body said: “This is because earnings are expected to rise more quickly than prices in the long term.”

Some Conservative MPs have been lobbying for tax thresholds to increase, according to the paper, as this would help the budget deficit plan to be accelerated and finish early.

They believe it’s unfair that a tax band designed for the elite is now being inflicted on so-called “middle managers”.

Categories:

Stonehouse Accountants in Peterborough, Cambridgeshire are a full service public accountancy practice offering accountancy services to companies and sole traders in Peterborough and throughout Cambridgeshire. We specialise in Bookkeeping, annual accounts, tax planning, business planning & more; which includes bookkeeping, bookkeeping accounts and bookkeeping services. If you are thinking of changing accountants and you are wondering what the next step might be, please contact Stonehouse Accountants in Peterborough where we will be happy to meeting up with you. Stonehouse Accountants have a good reputation for being a small, friendly and focused two partner public accountancy practice. We have years of experience and understanding of how small and medium size businesses work – you will get strong support in all areas of tax, vat, annual accounts and dealing with dss officials.

By 2033, one in three of us will pay 40p tax rate

Tax Saving Accountants

By 2033, one in three of us will pay 40p tax rate

Address

Telephone/Fax

E-Mail