As of April 2010, the UK’s new tax rates will take effect. Don’t panic though, for the vast majority of us, they will have no bearing what so ever. The changes to the amount of tax that you pay will only affect those whose annual income is over £100,000. There was also a statement in this year’s pre-budget report that said there are plans to increase people’s National Insurance contributions by 0.5% as of April next year but this is to coincide with an increase in the NI threshold. So, those on lower salaries are not set to be negatively affected. In fact, the new tax brackets’ effect on those suffering debt problems will be minimal. [Read more…] about Debt and the 2010 Tax Brackets