Woohoo! Basic rate tax payers are to get £120 back from the tax man.
Following the government’s terrible decision to scrap the 10p tax band, they’ve decided to bribe compensate those of us who pay 22% tax by altering the tax allowance rate. The money will be paid as a £60 payment in your pay packet in September, followed by £10 for the next 6 months.
Whilst it is a welcome change to get something back from the tax man, you can’t help feeling it was completely unnecessary waste of both time and money, had the 10p rate not been scrapped in the first place. It’s also an embarrassing turn of events for the government.
Look out for the extra £60 in your pay packet in September.
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