What is 'fair' in the world of tax?

clock • 3 min read

A recent poll by the UK's Fairness Foundation found that 78% of people think that high net worth individuals are not paying their fair share of tax. This comes shortly after reports that the tax burden on individuals is currently on course to reach its highest point since World War II, says Sharlene Rowley and Rachel de Souza in RSM's weekly briefing notes.  Our current income tax system means that taxpayers whose income is below a threshold of £12,570 generally pay no tax on their income. Where income is higher, tax is then applied at a range of rates, starting at 20% and rising to 45% ...

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