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Is This True About Salaries In The UK. by Nice2023(m): 7:50pm On Dec 14, 2023 |
If you earn form 50k pounds downwards you pay only 20% tax If you earn from 51k pounds to 125k pounds you pay 40% tax. So you rather remain at 49k than accept 50/60k pounds salary. 7 Likes 2 Shares
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Re: Is This True About Salaries In The UK. by princemillla(m): 8:00pm On Dec 14, 2023 |
May b there are taxes around that threshold 11 Likes 1 Share |
Re: Is This True About Salaries In The UK. by pedel: 8:01pm On Dec 14, 2023 |
False information. You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700. Anything you earn above £50,271 to £125,140, is taxed at 40%. Your income over £125,140, is taxed at 45%. That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes. 167 Likes 21 Shares |
Re: Is This True About Salaries In The UK. by Dreal1247: 8:05pm On Dec 14, 2023 |
Yes because of the taxation. After the deductions, as the higher deductions starts from £50,000.000 8 Likes 2 Shares |
Re: Is This True About Salaries In The UK. by KillIgbohoN0W: 8:25pm On Dec 14, 2023 |
Only the income after £50k is taxed. 5 Likes 6 Shares |
Re: Is This True About Salaries In The UK. by BloomingDale(f): 8:38pm On Dec 14, 2023 |
Leke Agba the liar. 20% will be paid on the first 50,000 and 40% will be paid on the rest, which is 1000. Some amount should be tax free though (probably the first 10,000 or so). I used the American tax system. Should not be much difference, just the amt will defer. 14 Likes 2 Shares |
Re: Is This True About Salaries In The UK. by mrvitalis(m): 8:39pm On Dec 14, 2023 |
Nice2023:No first 15k abi 12k is tax free The extra till 50k is taxed at 20% The extra above 51k is taxed at 40% Say you earn £125k Your tax is 0.2 x 38 =7.6 0.4 x 75 = 30 So your total federal tax would be 37.6 pounds But toy still have county tax, road tax, health insurance etc.. You would end up paying over 45k 32 Likes 5 Shares |
Re: Is This True About Salaries In The UK. by pedel: 8:55pm On Dec 14, 2023 |
You are not very intelligent. I work and live in England. I pay my taxes here. Furthermore, I don't want to call you a fool, not because you are not one, but because it will violate Nairaland 2nd rule. DeadCountry: 68 Likes 6 Shares |
Re: Is This True About Salaries In The UK. by Nigerfine3: 10:44pm On Dec 14, 2023 |
pedel:Wawu Calling him a fool was better for him sef 😏 😂 56 Likes 5 Shares |
Re: Is This True About Salaries In The UK. by Luckysbab: 12:51am On Dec 15, 2023 |
pedel: How does spending on expensive cars help them avoid taxes? 52 Likes |
Re: Is This True About Salaries In The UK. by teeytimi: 1:39am On Dec 15, 2023 |
Luckysbab:He is correct about everything other info but for buying expensive cars he is wrong. Buying expensive cars doesn't reduce the amount of tax you pay 24 Likes 2 Shares |
Re: Is This True About Salaries In The UK. by LooneyLester: 3:12am On Dec 15, 2023 |
I want to be working a job in UK but from Nigeria if that is possible 7 Likes |
Re: Is This True About Salaries In The UK. by Rickmann: 8:55am On Dec 15, 2023 |
BloomingDale: You can't be using the American taxation system to analyze that of Britain, it's not even close to being the same pls. 10 Likes |
Re: Is This True About Salaries In The UK. by psucc(m): 12:38pm On Dec 15, 2023 |
pedel:This is technical! I hope you are working for the Ariwoolas (Nigeria Courts). 5 Likes |
Re: Is This True About Salaries In The UK. by inoki247: 12:01pm On Dec 18, 2023 |
Lol I just hope by 2024 all this UK this and that go stop.... Like I don't understand the color of UK people problem anymore.... 7 Likes |
Re: Is This True About Salaries In The UK. by Brendaniel: 12:01pm On Dec 18, 2023 |
Well, as long as their tax is working for the people in general, unlike here where some people are eating the tax paid by everyone and people don't get the real benefits of their tax.... 14 Likes 1 Share |
Re: Is This True About Salaries In The UK. by Rubyjade: 12:02pm On Dec 18, 2023 |
Re: Is This True About Salaries In The UK. by TOPCRUISE(m): 12:02pm On Dec 18, 2023 |
So nothing to rejoice about 1 Like |
Re: Is This True About Salaries In The UK. by EKONGKING: 12:03pm On Dec 18, 2023 |
What pedal posted is the correct way of calculating not the op Nigerian way of taxation 4 Likes |
Re: Is This True About Salaries In The UK. by Dollyak(f): 12:03pm On Dec 18, 2023 |
UK only impose appropriate tax on the amount within specific tax threshold. 2 Likes |
Re: Is This True About Salaries In The UK. by Skillsnigeria: 12:03pm On Dec 18, 2023 |
Hmmm |
Re: Is This True About Salaries In The UK. by LaIabobo: 12:05pm On Dec 18, 2023 |
Not true. People should learn how tax deductions work. 40% is only paid on the £1000 above 50k Someone earning 49k takes home £3111 after tax. 51k takes home £3219 after tax 11 Likes 1 Share |
Re: Is This True About Salaries In The UK. by simpleseyi: 12:05pm On Dec 18, 2023 |
Another cursed illiterate has posted nonsense 4 Likes 1 Share |
Re: Is This True About Salaries In The UK. by money121(m): 12:05pm On Dec 18, 2023 |
I don't know Na Naija i dey |
Re: Is This True About Salaries In The UK. by payaseriy: 12:05pm On Dec 18, 2023 |
Hmmm |
Re: Is This True About Salaries In The UK. by Sejodep: 12:05pm On Dec 18, 2023 |
mrvitalis:Well analysed 6 Likes 1 Share |
Re: Is This True About Salaries In The UK. by Opolopoopolonio: 12:06pm On Dec 18, 2023 |
Dunno |
Re: Is This True About Salaries In The UK. by abdeefggh: 12:08pm On Dec 18, 2023 |
Crazy |
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