[!@#$%!]

Originally Posted by _slavo_

Wait ...
is that really true?

http://www.hmrc.gov.uk/rates/it.htm#2a

If I make more than £31,866 a year, they tax me 40% in the UK?

But ... that's just ... not ... right.

if i understand progressive income taxes correctly, you get taxed 10% on the first 2880, 20% on the 2881-31,065, 40% on the 31,866+

it's not like they tax you 40% on the whole income-- only on the income above each margin.

i hope i'm clear and correct on this because that's how it works in 'merica. otherwise someone who makes 31865 would take home a lot more than someone who makes 31,866-- which would be an incentive to earn less and therefore stupid.