Sentences with phrase «rate taxpayers»

People also continue to support the ending of child benefit for higher rate taxpayers by 62 % to 30 %.

His aides even hinted that incremental tax cuts could start in the second half of the next parliament, ending by 2020 with basic rate taxpayers paying # 500 tax less a year.

Child benefit is currently paid to all parents of children under 16, but will be removed from higher - rate taxpayers from next year.

It used to be that for every # 100 interest earned, basic - rate taxpayers lost # 20 in tax, higher rate # 40.

Up to 300,000 people will now find themselves upper rate taxpayers as a result.

Put it in the lower rate taxpayer's name and it'll fall under a higher personal savings allowance, so you can save more without paying tax.

The source suggested the median benefit for higher rate taxpayers would be # 2,000 on a one - off basis.

That was always supposed to be for basic rate taxpayers.

While full reimbursement is clearly preferable, tax relief on employment expenses at least returns a fraction (20 per cent, 40 per cent or 45 per cent, depending on whether the employee is a basic, higher or additional rate taxpayer) of the cost of the expense to the employee.

It would apply to basic rate taxpayers earning under # 44,000 where one partner does not use their full personal tax - free income allowance.

Maintaining child benefit for standard rate taxpayers and abolishing the education maintenance allowance also appeared to undermine efforts to keep children in school.

In 2007 — 08 the rate at which CGT is paid is determined by reference to the highest rate at which a person pays income tax, so a top rate taxpayer pays CGT at 40 %.

«We certainly won't take any lectures from Labour on this: at 20 %, the rate of CGT paid by higher rate taxpayers on other types of gain will still be two percentage points higher than it was when they were last in power, and for residential property and carried interest will remain at least 10 percentage points higher.

11.11 am: The Tories are not planning to revise their transferable tax allowance plans so that they would benefit the higher - rate taxpayers who will lose out from the child benefit cut, I've been told.

«If the government were to meet its aspiration of having a # 10,000 income tax personal allowance in 2015 - 16, this would increase the number of higher rate taxpayers by a further 850,000 and take another million people out of income tax altogether,» the report added.

Basic - rate taxpayers paid no extra tax on their dividend income before this date.

Phaseouts, however, not only claw back these benefits from the more affluent, they also increase the effective marginal tax rate these taxpayers face, decreasing the after - tax gains of earning more income.

While higher rate taxpayers up to # 100,000 will not be hit again, the 40p threshold remains much lower than it where it would have been if it had increased over time with earnings.

Three - quarters of a million more people are set to become higher - rate taxpayers in April, according to a leading economic research body.

The Scottish Government said in response to Labour's proposal: «Around 2.2 million basic rate taxpayers across Scotland - including almost half a million pensioners - would be hit by Labour's tax grab.

11.06 am: Alan Duncan, the international development minister, told Sky that many parents who will lose out from the abolition of child benefit for higher - rate taxpayers do not really need the money.

I should preface that I am a self employed sole trader in my early twenties, and a basic rate taxpayer averaging somewhere between # 28 - 32,000 per annum.

He said that the wealthy - or those with the «broadest backs», as he called them - had to make a fair contribution and that trying to create a system to deal with the «two basic - rate taxpayers with a combined income of more than # 44,000» anomaly would be terribly complicated.

The capital gains tax hike was smaller than expected, rising by 10 per cent to 28p per pound on non-business assets for higher rate taxpayers from midnight tonight.

The basic rate of CGT is 18 % with a higher rate of 28 % for higher and additional rate taxpayers, trustees and personal representatives.

So high rate taxpayers lose # 1billion of child benefit.

Child benefit is to be axed for higher rate taxpayers from 2013, Chancellor George Osborne has announced.

Currently, it will only apply to basic rate taxpayers earning under # 44,000 where one partner does not use their full personal tax - free income allowance.

Friends of Davis point to the unchanged CGT rate for lower rate taxpayers.

In 2013, two years before the election, top rate taxpayers will lose their child benefit and the first sick and disabled people will lose their employment support allowance under the time limit introduced 12 months earlier.

Both of them must be born on or after April 6, 1935, to qualify and the earner in the couple must be a basic rate taxpayer on a salary of less than # 42,385.

A typical basic rate taxpayer is paying over # 1,000 less income tax than when we came into government.

The next day, I attend Chris Chope's adjournment debate in Westminster Hall on the barmy policy of clobbering higher rate taxpayers by removing their child benefit entitlement.

It doesn't count towards your personal savings allowance, which is the amount of savings income (currently # 1,000 a year, or # 500 if you're a higher - rate taxpayer) you can earn without paying tax on your interest.

Higher - rate taxpayers could find themselves facing fines if their partner receives child benefit and doesn't inform the government.

That decision will stand alongside the decision I've had to take on uprating, meaning that in cash terms, a typical higher rate taxpayer will be better off next year and no worse off in total by the year after.

And this time I propose to extend the benefits of this further increase to higher rate taxpayers.

From April 2016 the government will introduce an allowance to remove tax on up to # 1,000 of savings income for basic rate taxpayers and up to # 500 for higher rate taxpayers.

Such provisions already exist for UK higher and additional rate taxpayers but the introduction of the new intermediate tax rate is likely to increase the overall number of people who are eligible to claim extra relief.

Under the plans, basic rate taxpayers would be allowed to transfer # 750 of their personal allowance to a spouse or civil partner.

In May 2008, the government announced a # 600 increase in the basic rate tax threshold - worth up to # 120 a year to all basic rate taxpayers - to partly compensate for the scrapping of the 10p starter rate of tax.

Capital Gains Tax will also fall from 28 % to 20 % - the cut will exclude property - and for basic rate taxpayers it's from 18 % to 10 %.

The Treasury's own estimate was of 650,000 more people becoming higher rate taxpayers.

A YouGov poll issued last night showed that 83 per cent of people are in favour of higher - rate taxpayers losing child benefit.

Any household with a higher - rate taxpayer will lose the benefit — worth more than # 1,700 for a family with two children — from January 2013.

The tory site has the party's alternative budget proposals: * Freezing council tax for two years, worth over # 200 for the typical family * Abolishing income tax on savings for all basic rate taxpayers, worth up to # 7,200 a year * Raising the income tax threshold for pensioners, worth up to # 400 a year * Help for the unemployed to upskill and reskill during the recession - and tax breaks for companies who create new jobs That, apparently, is it.

Top - rate taxpayers will complain they already bear a heavy burden.

Options include an end to tax relief on pension contributions for higher - rate taxpayers, an «accessions tax» to replace inheritance tax, and further increases in capital gains tax.»

«We agree with the Coalition that higher - rate taxpayers must make a contribution to deficit reduction.

But expanding the Capital Gains Tax increase to include standard rate taxpayers as well as higher rate taxpayers would simplify things, raise revenue with few adverse impacts and move the budget closer to implementing the tax changes promised in the Coalition Agreement.