British tax
2006-09-20 03:52:31 · 13 answers · asked by NJAS 2 in Politics & Government ➔ Other - Politics & Government
It's not a flat rate because you start of with a tax free allowance and is a combination of PAYE and NI.
Use this free online calculator to learn more.
http://www.listentotaxman.com/
2006-09-20 04:02:30 · answer #1 · answered by 'Dr Greene' 7 · 1⤊ 0⤋
You've got all the other responses with wage allowances and listing various other taxes.
The best way to see this is "Tax Freedom Day" - which is the point each year (mid June in 2006) that we British people have earned enough money to pay our taxes.
From this date, you can work out how much you'd have earned compared to your salary for the whole year and calculate the percentage.
Obviously this is an average figure, but over the last five years it's been getting later and later under Labour....bless 'em!
2006-09-20 11:31:31 · answer #2 · answered by Dilbert Fan of Essex 1 · 0⤊ 0⤋
It depends entirely on your earnings. You also need to take into consideration the national insurance contributions you'll be making from your wages. Overall the government takes around 22% of my earnings. If you earn over a particular threshold you fall into the 40% tax bracket but it'll be a good few years before I get there! Hope this helps.
2006-09-20 11:03:03 · answer #3 · answered by H 4 · 0⤊ 0⤋
Depending on how much you earn, it is a scale up to 40% for those above about 30k, but there are others when you have to spend it too.
Road tax (most of it is not used for roads).
VAT at 17.5% on almost everything you buy.
Your employer who paid you has already paid corporation tax.
Fuel tax of about 400% (80% of price)
Council tax (depending on your household)
National insurance (9%) of your pay
Tax on the profits in your pension scheme plus the tax when you collect it.
Tax on any interest you might earn on savings
Tax/Toll on some roads (eg severn bridge) to pay for their construction.
Tax on the income of employees or "civil servants" paid from taxes.
Over half of the working people in the UK are employed by the government. Its high maintenence
2006-09-20 11:19:42 · answer #4 · answered by Nothing to say? 3 · 0⤊ 0⤋
You have no obligation to pay income tax if you are an United State Citizen, This is not a moral issue but a matter of constitutional law. Only foreigners corporations are required to pay tax. This will open your eyes http://web6.streamhoster.com/vinyasi/stream/861_Evidence/broadband/index.html
2006-09-20 11:02:50 · answer #5 · answered by axeldones 1 · 0⤊ 0⤋
The first £5,035 you earn is tax free
From £5,036-£7,185 you're taxed 10%
from £7,185 - £38,335 it's 22%
anything over £38,336 it's 40%
There's also national insurance to pay (Click the second link for that information
2006-09-20 10:59:27 · answer #6 · answered by BadShopper 4 · 1⤊ 0⤋
22% but if you earn over £100,000 it's 40% but then you have nation insurance taken out as well. If your a student you don't pay tax if you earn less them £4,000 odd in a tax year.
2006-09-20 11:02:56 · answer #7 · answered by Heather 5 · 0⤊ 1⤋
if you add all the money that you pay in taxes starting with income tax, state tax, sales tax and all the other bs tax on your phone bill electric bill, property tax and so on.. it would probably add up to about 60% of your pay check, and we don't even get health care!!
2006-09-20 11:13:03 · answer #8 · answered by elnavajo 2 · 0⤊ 0⤋
a combination of tax and Ni is 25%
2006-09-20 11:00:22 · answer #9 · answered by mum2bogey 2 · 0⤊ 0⤋
Bad Shopper is spot on.
2006-09-20 11:02:54 · answer #10 · answered by ribena 4 · 1⤊ 0⤋