I must admit I thought it was 36% at present.
So what does it mean? Taking £1000 of meal allowances:
At present:
36% taxable (or 35%) at marginal rate of say 25%
£360 x 25% = £90 tax, £910 in pocket.
From 1st Feb:
59% taxable at marginal rate
£590 x 25% = £147.50 tax, £852.50 in pocket.
£57.50 worse off per £1000 allowances. Most LH cc will be about £100 per month out of pocket.
Reasons for this given previously. Well done BASSA, Lizanne Baloney and crew.