About Income Tax
An income tax is a tax imposed on individuals or entities that varies with respective income or profits. Income tax generally is computed as the product of a tax rate times taxable income. Taxation rates may vary by type or characteristics of the taxpayer. The tax rate may increase as taxable income increases.
Government spending plans 'a very big risk', says watchdog
... While Mr Hunt announced the cut to NI rates, he opted to leave NI and Income Tax thresholds untouched, meaning they remain frozen until 2028...
Autumn Statement: Hunt chose NI cuts over 'crowd-pleasing' tax cuts
...Chancellor Jeremy Hunt has said he rejected making " crowd-pleasing" tax cuts like Income Tax and inheritance tax in his Autumn Statement, in favour of cuts to help grow the economy...
Chris Mason: Three things really matter in Autumn Statement
... " By 2028-29, frozen thresholds result in nearly four million additional workers paying Income Tax, three million more moved to a higher rate and 400,000 more paying the additional rate, " says the OBR...
The hidden tax rise in the Autumn Statement
... While Jeremy Hunt announced a cut in National Insurance (NI) rates, he opted to leave NI and Income Tax thresholds untouched, meaning they remain frozen until 2028...
What the Autumn Statement means for you and your money
... NI works in a similar way to Income Tax, deducting a fixed percentage of the money you earn from your wages...
How much money does the UK government raise and spend each year?
... Where does the government s money come from? About a quarter of the money the government expects to raise this year will come from Income Tax, which people pay on the money they earn...
Hunt does not rule out tax cuts in Autumn Statement
... Chancellor Jeremy Hunt has not ruled out cutting Income Tax in Wednesday s Autumn Statement, as he insisted economic growth was his priority...
Laura Kuenssberg: Reshuffle deals drama but voters more worried about wallets
... There s also the potential political contradiction of while taking much more from millions in Income Tax...
