4 ms·
Can you give an example of these? The only example I can think of is where you loose some child benefits when entering certain income levels. Even when you go a
by NoFingerprints 4y ago
Can you give an example of these? The only example I can think of is where you loose some child benefits when entering certain income levels. Even when you go above the £100k income the effective tax rate becomes 60% until £125k. You still get 40% of the income?
- tebbers 4y agoWould you bother working if you’re losing more than half of your income before other taxes like VAT kick in?
- orwin 4y agoYes? I mean, i wouldn't work more than 40 hours a week whatever my salary is, but my bonus this year was taxed at 55% and i still would have done the work i did to get it.
- sph 4y agoYour figures are incorrect. At 100k per year your effective tax is a little less than 35%, not 60%. Your net income would be about £65,000. I'm surprised by the amount of tax illiteracy shown in these comments.
- gpderetta 4y agoparent was talking about the marginal tax rate of course, which is what is relevant to the discussion.