ASSOCIATE AT NORTON ROSE, 25
Iona is in an earning band that starts at £61,500. She rents her accommodation in Angel. She commutes to work via tube, and doesn’t own a car. She’s saving for her pension in the company scheme. She’s a non-smoker but she drinks in moderation.
BDO’s BUDGET TEAM SAYS:
Taking a salary of £61,500 or more Iona will like others gain from the hike in the personal allowance but lose out from the lower threshold before the 40p tax rate kicks in, which is coming down from £42,475 in the current tax year, to £41,450 in 2013-14, before rising back up to £41,865 in 2014-15. As a moderate drinker, she faces more expensive wine and spirits, but beer is 1p cheaper.