Income shifting by top rate taxpayers appears to have had a significant impact on the public finances. The cut in the rate from 50% to 45% in April has resulted in a jump in bonuses and a surge in income tax receipts, which were depressed in the 2012/13 fiscal year. This is potentially good news for the government’s deficit-cutting strategy.
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Income shifting by top rate taxpayers appears to have had a significant impact on the public finances. The cut in the rate from 50% to 45% in April has resulted in a jump in bonuses and a surge in income tax receipts, which were depressed in the 2012/13 fiscal year. This is potentially good news for the government’s deficit-cutting strategy.
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If you do not subscribe but are a registered user, please enter your details in the following boxes: