Smedley, Tim
July 2010
People Management;7/29/2010, p18
The article focuses on the expected decline in income of top earners in Great Britain in 2010 due to looming higher tax rates, stricter rules and decline in pension allowances as the country struggles its way out of the recession. Income tax set by the government of former Prime Minister Gordon Brown for those earning 150,000 pounds a year is 50%. The annual tax-free pension allowance is expected to fall to 30,000-45,000 pounds from 255,000. Employees may also discourage from buying share options after capital gains tax was raised from 18% to 28%.


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