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VAT and tax % ??

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    #11
    Originally posted by kesm View Post
    I had a look at the http://www.hmrc.gov.uk/rates/it.htm
    I earn more than 34,600, so I get taxed 40% on my salary?
    You only get tax at 40% on your taxable income above 34'600. If your tax allowance was, for example, 4'000, then everything above that, up to 38'600 (=4'000+34'600) is taxed at the base rate, and everything over that is taxed at the higher rate (40%).
    Down with racism. Long live miscegenation!

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