TaxPersonal TaxBudget2012: 50p tax rate to fall to 45p from April 2013

Budget2012: 50p tax rate to fall to 45p from April 2013

The 50p top rate of income tax will be cut to 45p from April 2013, the Chancellor said.

An HM Revenue and Customs study found that the top rate of income tax had only raised £1bn, around a third of the amount it was originally predicted to raise.

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