UK Tax Brackets
Could someone, please, enlighten me on what the personal income tax bracket in the UK are and how bonuses are taxed?
Thanks!
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Set at 36k, about standard base for first year analyst. Bonus is taxed as ordinary income.
UK has a progressive tax system that runs April to April. Bonuses are included in your taxable income and taxed at the marginal rate. There are not many offsets that you can use in the UK system. Current rates are here - http://www.hmrc.gov.uk/rates/it.htm
Don't you just hate paying taxes?
I don't begrudge paying taxes - I just don't like what the money gets spent on!
Much appreciated! Gosh, this seems like an expensive country to live in! Well, but I've chosen it and a boutique over a shithole and a BB, so I guess I need to pay my dues... :)
worth every pence. I much prefer it over NYC. Watch out for some additional taxes if you are an American citizen, placed on you by the US government.
Good choice and good luck.
Thanks for the encouragement and extra tips!
Cheers
I find it so gutting as close to half of my salary gets taken away each month let alone at bonus time..... it just doesn't seem fair!
Would love to see a flat tax like in some parts of the world!
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