It is blatantly obvious that anyone who says they are considering moving south of the border because they will be “worse off” is being creative with the truth.
Starter rate on earnings between £12,571 to £14,732 at 19%Higher rate between £43,663 to £150,000 41%In Scotland, rates are not changing because the Scottish Parliament sets rates and thresholds.The government estimates the changes will cost the treasury somewhere between £2bn a year, while the Institute for Fiscal Studies says it will be more and could be as much as £6bn.
The more you earn the more you benefit so if you are one of the very few earning £600k you can enjoy another £22,000 and the super-rich with more than £1m a year will add another £40k to their wealth stash. Rather they say it because they think they could be “better off” by paying less in taxes.This is money they are currently contributing to the rest of society. Higher rate taxpayers are extremely valuable to the taxpayer and their contribution should be a source of pride.
That’s before we consider the damage done to the economy by the abolition of the top rate since it was announced.
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