Originally Posted by
3Greens
plus the loss of personal allowance Tax free band, so you now pay income tax on the first £15k or so too, as well as 38% on the rest. Trust me, it’s an eye watering amount of tax and fiscal drag pulls more and more into it each year.
Exactly.
It’s a dis-incentive to work harder and do well.
For example, GPs and consultants: look at how they avoided busting into this band by refusing to do any overtime (not forgetting the punative pension taxes which ironically were paid by the govt to keep them working!).
The US for example, does not have such a punative system, and far more generous tax bands.
Off-topic for sure!