4 ms·
You can't sum the marginal rate to get the 'effective rate'. The effective rate of income tax in the UK is closer 37%, not 60%, at an income of £121k. https://
by scaphandre 8y ago
You can't sum the marginal rate to get the 'effective rate'.
The effective rate of income tax in the UK is closer 37%, not 60%, at an income of £121k.
https://en.wikipedia.org/wiki/File:Percentage_IT_and_NI_and_Marginal_Taxrate.png https://en.wikipedia.org/wiki/File:Percentage_IT_and_NI_and_...
- komodosquirrel 8y agoYou get 61.2% but there is hidden about 12% of tax that employer has to pay on top of that. It is insane.
- cs02rm0 8y agoUgh. I meant marginal.