Earlier today we arrested a woman for suspected tax evasion after repeatedly selling her old clothes.
She claimed that she sold them for a fraction of what she had paid. Had paid tax on them when purchased with money she’d already been taxed on.
Investigations are ongoing.
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If I have calculated this right, excluding employer contributions to pensions and appretiship levy, the marginal tax rate for a basic rate taxpaying graduate is now basically 50%
CALCS BELOW
The rise in National Insurance means graduates earning over £27,295 will now pay a marginal tax rate of 42.25% once student loan repayments are included.
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Agent #71, Agent #6781, and Agent #418