{"id":2354,"date":"2010-04-08T19:10:03","date_gmt":"2010-04-08T18:10:03","guid":{"rendered":"http:\/\/blog.widmann.org.uk\/?p=2354"},"modified":"2010-04-08T19:10:03","modified_gmt":"2010-04-08T18:10:03","slug":"the-uk-now-has-a-marginal-rate-of-tax-of-61-5","status":"publish","type":"post","link":"https:\/\/widmanniana.org\/blog\/the-uk-now-has-a-marginal-rate-of-tax-of-61-5\/","title":{"rendered":"The UK now has a marginal rate of tax of 61.5%"},"content":{"rendered":"<div style=\"float: left; margin-right: 10px; margin-bottom: 10px;\">\n<a href=\"http:\/\/www.flickr.com\/photos\/alancleaver\/4105756012\/\" title=\"photo sharing\"><img decoding=\"async\" src=\"http:\/\/farm3.static.flickr.com\/2568\/4105756012_db89e4be50_m.jpg\" alt=\"\" style=\"border: solid 2px #000000;\" \/><\/a><br \/>\n<span style=\"font-size: 0.9em; margin-top: 0px;\"><br \/>\n<a href=\"http:\/\/www.flickr.com\/photos\/alancleaver\/4105756012\/\">Income tax<\/a><br \/>\nOriginally uploaded by <a href=\"http:\/\/www.flickr.com\/people\/alancleaver\/\">alancleaver_2000<\/a><br \/>\n<\/span>\n<\/div>\n<p>There&#8217;s an interesting blog posting in The Telegraph today, pointing out that on incomes between \u00a3100k and \u00a3113k the effective <a href=\"http:\/\/blogs.telegraph.co.uk\/finance\/ianmcowie\/100004776\/a-nasty-surprise-in-next-months-salary-statement\/\">marginal tax rate is now 61.5%<\/a>.<\/p>\n<p>Note that this has nothing to do with the new 50% tax rate, which applies only to people earning more than \u00a3150k.<\/p>\n<p>Instead it is the effect of three different measures being combined:<\/p>\n<blockquote>\n<p>Combining the 40pc top rate of income tax with National Insurance at 11.5pc and the withdrawal of personal allowances above \u00a3100,000 has created a new marginal rate of tax of 61.5pc.<\/p><\/blockquote>\n<p>I hate this kind of peaks in the tax system that makes certain ranges of income unattractive.<\/p>\n<p>If I was in charge, I&#8217;d introduce <a href=\"http:\/\/en.wikipedia.org\/wiki\/Negative_income_tax\">negative income tax<\/a> instead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Income tax Originally uploaded by alancleaver_2000 There&#8217;s an interesting blog posting in The Telegraph today, pointing out that on incomes between \u00a3100k and \u00a3113k the effective marginal tax rate is now 61.5%. Note that this has nothing to do with the new 50% tax rate, which applies only to people earning more than \u00a3150k. Instead it is the effect of three different measures being combined: Combining the 40pc top rate of income tax with National Insurance at 11.5pc and the withdrawal of personal allowances above \u00a3100,000 has [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,159,130],"tags":[],"class_list":["post-2354","post","type-post","status-publish","format-standard","hentry","category-economics","category-en","category-politics"],"_links":{"self":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/2354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/comments?post=2354"}],"version-history":[{"count":0,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/posts\/2354\/revisions"}],"wp:attachment":[{"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/media?parent=2354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/categories?post=2354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/widmanniana.org\/blog\/wp-json\/wp\/v2\/tags?post=2354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}