Christopher Hope reports in today’s Daily Telegraph that in two years British taxes will rise to their highest level in 25 years. The article discusses a report by the UK think tank Reform , which seeks to obtain tax cuts for the middle class who have the highest effective tax burden. It was reported that a household earning £28,000 annually (approximately US$56,000) in disposable income pays 47.9% in taxes!
Parties in personal injury litigation in Britain may find the tax advantages of periodical payments worth a look in light of this information.
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