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    Tom. As allowances rise the basic rate band has been reduced.
    In 2011/12 it was £35,000 plus nil rate band of £7,475
    In 2012/13 £34,370 plus nil rate band of £8,105
    In 2013/14 it will be £32,010 plus nil rate band of £9,440

    The £10,000 nil rate band applies for 2014/15

    Everyone on over £100,000 loses the nil rate allowance - an effective tax rate of 62p (tax and NI) being paid.

    This is scandalous and simply wrong. More and more people are getting dragged into the higher rate tax bracket.

    The budget will increase the number of higher rate taxpayers to over 5 million. High rate tax is not for the rich or well off any more.

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