(This means there will be around 750,000 more taxpayers facing 40 per cent income tax on a portion of their earnings. That’s the bad news. The good news is that half a million low earners will no longer pay any income tax. I guess how you react all depends on which end of the pay scale you are.)
The higher rate tax threshold in the UK will be lowered in April 2011, from £37,000 to £35,001.