squirrelking
Free Member
But once again offers bigger savings the more you spend, so the wealthier benefit more…
That’s the same logic that has people shopping by ‘biggest discount’. The illusion of savings when you’re actually spending more.
No, it's different with tax.
With most discounts it's "save 20%" leading to "I'll save more if I spend more" but with tax it's "these people will save 20% and those people will save 40%"
Yeah I understand that bit, I think we're at cross purposes. I was referring to "the more you spend the more you save".
TBH I'd be as happy making it 20% across the board, keep VAT on bikes and a single use code on your tax code notification any retailer can redeem for the 20% rebate.
2. C2W increases your tax free allowance by the amount ‘borrowed’, rather than reducing your salary and so affecting the top rate of tax that you pay. So everyone saves bottom rate tax, even if you’re an STW IT director on £500k.
You may need to finesse that a bit, because as proposed it would actually affect your marginal rate because of the way the 0% band passes through into other bands.
But we can change it after I buy my “vanity chariot”, right? I’ve been hoping to buy one for, well, forever, but still can’t afford it.
