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WebApr 9, 2024 · The big cuts to income tax in 1988, reducing the top rate from 60p to 40p, plus cutting the basic rate from 27p to 25p, still left the UK with an overall Budget surplus. To put it another way, Lawson did not believe in deficit-financed tax cuts. He, after all, was a supporter of Sunak in last summer’s leadership election for this very reason. WebMar 1, 2024 · Calculate Your Liability. Report your taxable business income on your 1040. Add it to any other taxable income, such as wages from a day job, or your spouse's job if you're filing a joint return ... continuity video
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