tintoryRishi Sunak considers tax cut for top earners after byelection defeats
Walt J. RimmerWait, wait, wait… The average middle-class voter who is struggling to get by is starting to turn away from the Tories and their leader’s suggestion is to reduce taxes on the wealthiest people? Not to improve services or perhaps address the issues that drove former conservative party voters to Labour. No. Cutting the taxes of the elite, further reducing funding for services that the majority of voters use or rely on is the obvious answer.
I am not from the UK do allow me a question: From what yearly income on, do you guys have to pay the „top tax“ and how high is it at the moment?
£125,140 a year you pay 45% income tax
Interesting- compared to my country Germany where you have to pay 42% for everything you earn above (!) 62.810 €
Guess Germany hates its middle class even more than the UK…
In Ireland it’s about 48% on everything above €40k, then 52% above €70k.
That by itself could be misleading though, the overall effective tax rate for someone on €40k is 18%, around 30% at €70k. The thresholds will rise next year.
What is the break down of this? Is it the higher USC band? I’m not familiar with a 52% tax rate.
Yeah after about €70k there is a higher rate of USC. The 52% includes PAYE, PRSI and USC at the highest bands for a regular employee.