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Originally Posted by !@#$%!
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.
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Don't know the exact figures for individual circumstances but I'd say most people can budget on the assumption that they'll take home roughly 70% (probably a little bit more) of their salary - unless they're freelance or have their own business, when they'll keep the lot but have to file their own tax return at the end of the year. But again, 30% seems like a good round figure whichever way it's done. That'll include deductions for tax and national insurance.