Since the abolition of the 10p tax rate in UK for low earners, I am wondering if I will be worse off?

I have heard that if you earn below 拢18500 and have no kids then you could lose out 拢232 per year!!!. I am sure I used to pay 22% as I earn 15000k and now 15500k and have no kids , so how would I lose out? surely I will be paying 2% LESS tax (or did I pay a portion of my salary at 10%?) Can anybody help me number crunch these figures???

First deduct your Personal Allowance. Then apply the various Tax rates ..

2007. pa = 拢5,225
拢15,000 less pa = 拢9775, so you pay tax on 拢9775.

10% band was 拢2230, so you pay 拢223 Tax on the first 拢2230, leaving 拢9775-2230 = 拢7545 to be taxed at 22% = 拢1659.90 ...
So total Tax paid is = 拢223 + 拢1659.90 = 拢1,882.90

2008. pa = 拢5,435
To compare 'like for like' we have to use your old salary.
拢15,000 less pa = 拢9565.
You pay 20% Tax on all that, so Tax = 拢1,913

IF you were still on 拢15,000, you would pay 拢30.10 (i.e. an extra 拢2.51p per month) MORE Tax as a result of the 10% band abolition.

Always assume whatever is printed in newspapers is, at best, "economical with the truth" (as the Reporter would say :-) ) ..

Reporters have degrees in 'media studies', NOT in maths, finance or indeed ANYTHING that requires them to add more than 2 and 2 (and when they do, they still come up with 5 :-)