Comment Comment by Plyphon_ Well our UK tax bands are marginal tax rates.So you pay zero on the first £12,570 of earnings. Basic rate of 20% from £12,571 to £50,270 of earnings. And then 40% on £50,271 onwards.(We have additional rate over £150,000 of 45%).It's important to remember you don't pay a flat %age on your income. It's worked out as a precentage of income you earn inside the thresholds parent Plyphon_ 5 years ago
So you pay zero on the first £12,570 of earnings. Basic rate of 20% from £12,571 to £50,270 of earnings. And then 40% on £50,271 onwards.
(We have additional rate over £150,000 of 45%).
It's important to remember you don't pay a flat %age on your income. It's worked out as a precentage of income you earn inside the thresholds