Budget 2007

[ewx]

[Poll #951035]

My back-of-the-envelope calculation suggests that the break-even point is around £18,600: you win by about 2p on every pound you earn above that, and lose below it.

There are benefits changes at the bottom end which presumably ameliorate the doubling of 10% rate to some extent (e.g. working tax credit) but I'm afraid I don't know how those benefits work, so if you're affected by those you'll have to work it out yourself.

Comments

[scat0324.livejournal.com]

Even with the personal allowance taken into account?

[oldbloke.livejournal.com]

No idea!
Did I hear the upper limit on NI contributions also went up? I imagine I'll be roughly where I was, then...
The BBC's calculator makes me&L together 380/yr better off, and that's putting my car in as band F, which may be pessimistic, but the MOT cert is filed "somewhere" so I couldn't check. Anybody know what VED band a Y reg 1.8 Honda Accord typeS is? Cost me 190 last time.