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It's not possible to pay more than 50% in earnings related taxes (income tax and national insurance) in the UK because the national insurance is capped at £23k
by onion2k 4y ago
It's not possible to pay more than 50% in earnings related taxes (income tax and national insurance) in the UK because the national insurance is capped at £23k and the highest tax band is 45% (on earnings over £150k). Even if you earn £1m/year you still take home more than £500k.
- Duplo 4y agoAccording to helpful tool on ListenToTaxMan.com tax is 46% if earning £2million/year. https://listentotaxman.com/?year=2022&taxregion=uk&age=0&time=1&ingr=2000000 https://listentotaxman.com/?year=2022&taxregion=uk&age=0&tim...
- redeeman 4y agoyeah and when you spend it, you are taken for 20% sales tax, not to mention that the prices in general are far higher, because the people who made it need to pay taxes too