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Take home pay on a £100,000 income (top-end London senior dev salary) is £66,532, so a 33.5% tax rate. This includes income tax and national insurance (healthca
by ukoki 7y ago
Take home pay on a £100,000 income (top-end London senior dev salary) is £66,532, so a 33.5% tax rate. This includes income tax and national insurance (healthcare and basic state pension) but not optional private pension contributions.
For a £50k salary you are looking at 25% total tax rate.
https://www.moneysavingexpert.com/tax-calculator/ https://www.moneysavingexpert.com/tax-calculator/
- raverbashing 7y agoThanks I stand corrected. The "higher rate" is 40% (+ NI) https://www.gov.uk/income-tax-rates https://www.gov.uk/income-tax-rates and the highest rate is 45%
- rlpb 7y agoIf you want to compare with other countries, NI can't be an afterthought. You have to include it in the income tax rate. Just because the UK doesn't call it an additional income tax doesn't stop it from being so. Edit: and along the same lines, you need to add the "employer's contribution" to the total tax bill. In all NI works out to an additional 15% or so for someone on ~£100000. So that's about 55% in total.