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:
“I find nothing healthful or exalting in the smooth conventions of society. I do not like the close air of saloons. I begin to suspect myself to be a prisoner, though treated with all this courtesy and luxury. I pay a destructive tax in my conformity.”
—Ralph Waldo Emerson (1803–1882)