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Type: Journal Articles Authors: C N Morris and N A Warren ISSN: Print: 0143-5671 Online: 1475-5890
Published in: Fiscal Studies, Vol. 1, No. 3, July 1980
Volume, issue, pages: Vol. 1, No. 3, pp. 34-43
A distinctive freature of the British tax system is the very wide range of incomes which is subject to tax at the basic rate. In 1977 - 8, the first £6000 of taxable income was subject to tax at 34 per cent. In many other countries, there is an elaborately graduated schedule of marginal rates of tax. In 1978, a major departure from this pattern was made with the introduction of a reduced rate of tax of 25 per cent on the first £750 of taxable income. This innovation lasted two years until the reduced rate band was abolished in the 1980 budget. The first £11,250 of taxable income is now charged at the basic rate of 30 per cent. Search |
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