this post was submitted on 21 Oct 2023
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[–] dumdum666@kbin.social 1 points 11 months ago (11 children)

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?

[–] Person264@lemmings.world 3 points 11 months ago* (last edited 11 months ago) (10 children)

£125,140 a year you pay 45% income tax. But it's not quite that simple because you don't pay 45% on everything, just whatever is earned above that and the other thresholds https://www.gov.uk/income-tax-rates

[–] dumdum666@kbin.social 1 points 11 months ago (5 children)

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…

[–] Nefrayu@lemmy.world 2 points 11 months ago (1 children)

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.

[–] Squizzy@lemmy.world 1 points 11 months ago (1 children)

What is the break down of this? Is it the higher USC band? I'm not familiar with a 52% tax rate.

[–] Nefrayu@lemmy.world 1 points 11 months ago

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.

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