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This is the third article in a series on the key UK personal tax changes from April 2008. For the others, please see the introduction.
Basic rate of income tax has been cut to 20%
At last, something to cheer about! The world economy is in turmoil, banks are going belly up, and stock markets are falling, but at least this year will see most UK employees paying less income tax. The exceptions are lower-paid workers who are more affected by the scrapping of the 10% tax band we covered yesterday than by any gain from the cut in basic rate tax.
