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BUDGET 2009 NEWS: Higher rate income tax to rise to 50 per cent

The Chancellor Alistair Darling has announced that higher rate tax payers will be taxed 50 per cent from 2010/11.

In November in the pre-Budget report, Darling announced he would be raising the higher rate income tax to 45 pence but today he announced those earning over £150,000 will be taxed 50 pence.

Syndaxi Financial Planning managing director Robert Reid says: “Anybody finding themselves in the higher rate band is going to have to seek professional advice. A lot of those people might not have had advisers before. This gives a large opportunity to well organised firms to take on new clients who are more than likely to be receptive to paying a fee for this service.”

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