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 have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)