The UK government takes 50% of every £1 for basic tax payer earns and spends (i.e. income over £7,475, basic tax rate of 20%; VAT 20%). Wow that hurts. Now for those that are not basic tax payers, with top tax rate of 50%....it is scary ouch! Time to get going.....
How to pay less tax: pensioners - Yahoo! UK & Ireland Finance
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