Top marginal tax rate explained
Mary: I've just read that top marginal tax rate will be kept at 52pc for all taxpayers. However I understood that the top tax rate was 41pc, which is the figure on the revenue.ie web site. Is there currently a 52pc band and if so when does it kick in?
The 52pc marginal rate was composed of 41pc income tax, 5pc health levy and 6pc income levy for 2010.
The marginal rate is not changing for 2011, but will now be composed of 41pc income tax, 4pc PRSI and 7pc Universal Social Charge