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Income tax and National Insurance Contributions are our biggest taxes. Together they raise almost half of all tax revenues.
National Insurance Contributions were cut at the start of the year, but we’re in the middle of a multi-year freeze in tax thresholds that will amount to a tax rise of over £40 billion by the time it’s finished. And these are just the latest in a string of changes in how we tax personal incomes.
From cliff edges and personal allowances, to Scotland's 6-band income tax system and The Beatles' scheme to minimise their tax bill, we cover all things income tax.
In our latest episode, we're joined by Helen Miller, Deputy Director at IFS and head of our tax sector, and Dan Neidle, a tax lawyer and founder of Tax Policy Associates.
Zooming In: discussion questions
Every week, we share a set of questions designed for A Level economics students to discuss, written by teacher Will Haines.
1. National insurance is paid at 10% on earnings over £12,570 and income tax is paid at 20% on earnings over this same amount. How much tax revenue would the government gain from an individual earning £25,000 a year?
2. With reference to the Laffer curve, explain why the 1p increase in income tax in Scotland only produced an additional £8m in tax revenue, rather than the £53m that was anticipated.
3. What changes would you make to UK income tax to make it more rational?
Host
Paul Johnson
Paul has been the Director of the IFS since 2011. He is also currently visiting professor in the Department of Economics at University College London.
Participants
Helen Miller
Helen is Deputy Director of the IFS and Head of the Tax sector.
Dan Neidle
Dan Neidle is a British tax lawyer and commentator, who researches and writes on issues of tax law and tax policy. He founded Tax Policy Associates, a non-profit which advises policymakers and journalists on tax policy.
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