The Student Room Group

£100000 is only £65000 after taxes

If you earn £100000 a year, your take-home pay is only £65467 after income tax and national insurance. So you literally lose more than a third of your income to the government. Surely this is really unfair to those who have worked really hard. I would much prefer it if everyone just paid 20% of their income in tax

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Original post by Ladbants
If you earn £100000 a year, your take-home pay is only £65467 after income tax and national insurance. So you literally lose more than a third of your income to the government. Surely this is really unfair to those who have worked really hard. I would much prefer it if everyone just paid 20% of their income in tax


That's what Thatcher attempted to introduce (the Poll tax). It ended her political career

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I would say that it's fair that a wealthy person owes a third of his income to maintain the physical, cultural and human infrastructure upon which he built his wealth.
(edited 7 years ago)
That's why you go and invest your earnings in tax havens such as Monaco
Original post by Ladbants
If you earn £100000 a year, your take-home pay is only £65467 after income tax and national insurance. So you literally lose more than a third of your income to the government. Surely this is really unfair to those who have worked really hard. I would much prefer it if everyone just paid 20% of their income in tax


Congrats, you've discovered taxes!

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Reply 5
Original post by Just a Bloke
I would say that it's fair that a wealthy person owes a third of his income to maintain the physical, cultural and human infrastructure upon which he built his wealth.


Why should non-wealthy people only pay 20% then? It's just unfair to people who have worked hard.
Reply 6
Original post by Princepieman
Congrats, you've discovered taxes!

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But I never knew they were this high. £100000 a year just seems not worth it anymore when you have to give any so much of it.
Reply 7
Why do you think people move to the US or the gulf states?

if you add student loan into the mix you're looking at closer to 55k.

the tax in this country is ridiculous.
When has it ever been much different?
Original post by Ladbants
But I never knew they were this high. £100000 a year just seems not worth it anymore when you have to give any so much of it.


Yeah, taxes + NI is high in the UK aha, nothing new here. If you want lower taxes go work in Singapore, Dubai, HK, or Switzerland.

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Taxation in this country is broken. Hard workers are penalised for making more money. Whats the point of putting in 80 hour weeks just to see your overtime go to the taxman? Do yourself a favour and avoid tax if you can. Go self employed at the very least, imo.

Someone who makes £200,000 takes home £116,000. An offshore company doesn't sound like such a bad idea after all.
Original post by Ladbants
Why should non-wealthy people only pay 20% then? It's just unfair to people who have worked hard.


No, the richer person has worked harder or smarter to get more money. They shouldn't be punished for working hard by being given a much bigger tax bill. That is so unfair.
Taxes are not ridiculously high, back in the 60's we had a super tax of 95%
Original post by Ladbants
If you earn £100000 a year, your take-home pay is only £65467 after income tax and national insurance. So you literally lose more than a third of your income to the government. Surely this is really unfair to those who have worked really hard. I would much prefer it if everyone just paid 20% of their income in tax


Become self employed and have your own company employ you at minimum wage. Then take company profits as dividends.
Original post by Ladbants
Why should non-wealthy people only pay 20% then? It's just unfair to people who have worked hard.


just do us all a favour and go and live in a jurisdicyion where there are no taxes.
Original post by Kieranisda1
Taxes are not ridiculously high, back in the 60's we had a super tax of 95%


christ almighty

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Reply 16
Original post by JamesN88
Become self employed and have your own company employ you at minimum wage. Then take company profits as dividends.


You still gotta pay taxes on those bro.
False premise to say that high earners work harder. Clearly the reason why higher earners are taxed more is because they are better able to bear the burden.
Move to Dubai or any other Gulf country where income is tax-free. If you can earn 100k in this country, you can do it there too. :smile:
Original post by Princepieman
christ almighty

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Have a read of this, it really puts things in perspective.

https://en.wikipedia.org/wiki/History_of_taxation_in_the_United_Kingdom#20th_century

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