10p Tax
The starting rate of income tax, often known as the 10p rate, was the lowest rate of personal income taxation in the United Kingdom from 1999 to 2008. It was introduced by then Chancellor of the Exchequer, Gordon Brown, in his 1999 budget and abolished by him (in his last budget as Chancellor) in 2007.
Read more about this topic: Personal Allowance
Famous quotes containing the word tax:
“The government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
—Ronald Reagan (b. 1911)