Have your say on government e-petitions

Abolish the 60% income tax rate

Submitted on Friday 20th January 2012

Published on Monday 23rd January 2012

Current status: Closed

Closed: Wednesday 23rd January 2013

Signatures: 5

Tagged with

income tax ~ Pensions ~ Tax

Petition Action

Abolish the 60% income tax rate

Additional Information

The effective income tax rate for earnings of £100,000 - £115,000 is 60%, as the tax free allowance drops away. So the tax rate goes from 40% for earnings under £100,000, up to 60%, and then back down to 40% for earnings between £115,000 and £150,000. Truly bizarre.

This tax rate is a clear disincentive for those earning around £100,000 (mainly those seen as "wealth creators"). So much so that the vast majority will surely act to avoid this rate (e.g. By paying into their pensions). This is dragging liquidity away from the market and therefore adversely affecting everyone in the country.


You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!

Have your say on this petition!

comments powered by Disqus

repetition.me is a Good Stuff website

44.211.117.101 Thu, 28 Mar 2024 09:54:10 +0000