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by HappyTypist 3960 days ago
That's the marginal tax rate. It's not your effective tax rate.
2 comments
throwaway12309 3960 days ago
Sorry, can you explain the difference? When I was in the UK that was basically what I paid and never got anything back.
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IanCal 3960 days ago
The marginal tax rate at £50k is actually 42%, just looking at income tax (40%) and NI (2% at that point).
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