WELCOMED IN BRITAIN
Pay-As-You-Earn Taxation LONDON, September 23. Ten million wage-earners in Britain will soon be paying their income tax weekly. Only 3,000.000 taxpayers are unaffected by the new pay-as-you-go plan, which operates from April 6, 1944. The plan will apply to any person whose wage is calculated and paid weekly, whether or not he is a manual worker. Professional men and' others engaged at a yearly salary but who are paid weekly will be included.
Theoretically, the Treasury stands to lose £250.000,000, because the new 1)1 an means “forgiving" part of the income tax wlpeh should be paid early in 19-44. Any loss, however, will be offset by the gain of immediate payments of tax in the cases of new workers and of earlier payments on rising earnings. The Press generally welcomes the scheme, mainly on the grounds of its simplicity and ingenuity. The plan also has the support of the Employers’ Confederation and the Trades Union Congress.
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Bibliographic details
Dominion, Volume 36, Issue 310, 25 September 1943, Page 7
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159WELCOMED IN BRITAIN Dominion, Volume 36, Issue 310, 25 September 1943, Page 7
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