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by dogma1138
1634 days ago
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You start to lose your income tax allowance at £100K that more than offsets the CGT tax allowance and puts you in a hidden 60% tax rate. Childcare is expensive as fuck and you lose your childcare allowance at £50K in fact if you share a household with anyone who claims it and you earn more than £50K they’ll deduct that from you… Living on wealth in the UK is as easy as in the US I would agree to that perhaps even easier since there are no property taxes and probably even more tax schemes to leverage than in the US but getting to that point under PAYE even whilst earning well above the median wage isn’t easy especially if you want to have children and have to live in London for that pay. The main issue is just how depressed many of the wages in the UK are and thus just how narrow the tax base is. |
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