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thats incorrect. you lose your tax free allowance, which is a furtger 12,500 tax paid. Plus you need to consider graduate tax and the interest on those 'loans'
by c7THEC2DDFVV2V 3y ago
thats incorrect. you lose your tax free allowance, which is a furtger 12,500 tax paid. Plus you need to consider graduate tax and the interest on those 'loans' which currently sits at 4.5%
- dukeyukey 3y agoBut you're still only paying the lower rates on income until you hit £125000, and at that income those student loans aren't gonna exist for long.
- c7THEC2DDFVV2V 3y agothey will exist for a while because you need to get to that level in your career. People rarely leave uni and get 100k+ jobs. If you leave uni and find a job paying at 50k and you get increases of 2.5% each year, it will take over 20 years to repay.
- blitzar 3y agoIts an even higher tax rate if you buy 50,000 of drugs with your money and call it a heroin tax.
- c7THEC2DDFVV2V 3y agowhat on earth?