I am trying to get my head around marginal rate tax without much success.
Can someone, as succintly as possible, explain to me why the marginal rate of tax (32.5%) is higher than the full rate (30%) and how that comes to pass?
Isn't it a "mix" of small companies and full rate? So how does it become a higher rate than full rate.
Apologies if this is a stupid question, but I just cannot process it.
I look forward to a response,