The result is that basic rate
tax at 20% is now due on PS500 of their interest which amounts to PS100.
Until recently I was a basic rate
taxpayer but now I am into higher-rate tax.
If you're a basic rate
taxpayer, from April 6 all banks and building societies will stop taking tax from the interest paid on your non-Isa savings and current accounts.
George therefore expected that he would receive PS13,600 from his pension provider (PS17,000 less 20 per cent basic rate
More than one in three readers would increase basic rate
income tax from 20% to 21% to pay for hospital building.
He said that while programming fees are expected to increase 7 percent to 18 percent annually, SELCO's expanded basic rates
remain 25 to 36 percent below rates of private competitors in surrounding communities.
If you pay overtime, only the employee's basic rate
of pay can be taken into account for calculating national minimum wage.
According to UK Treasury secretary Danny Alexander, the average Scottish taxpayer would be [pounds sterling]1,000 a year worse off due to an 8% tax rise in the basic rate
of tax that they would have to pay.
from 8% to 8.5%, but we warned that as soon as inflation slowed down, we would have to lower the basic rate
Bringing forward the increase in the income tax personal allowance will mean a cumulative cash benefit for typical basic rate
taxpayers of PS705 since the Coalition took power, according to Treasury figures.
ALTHOUGH the latest inflation figures show the Consumer Prices Index (CPI) fell in November from 5% to 4.8%, a basic rate
taxpayer at 20% still needs to find a savings account paying 6% per annum, while a higher rate taxpayer at 40% needs to find an account paying 8%, to keep ahead of inflation, says Moneyfacts.co.uk.
For basic rate
taxpayers, these certificates pay the current inflation rate measured by the Retail Prices Index (RPI) plus 1% on each anniversary.