News for hackers. Stuff that matters.

A comment on HSBC CEO Says Bankers Generating 20% of London Revenue May Move. Parent comment

Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by renaudg on Wednesday January 18, 2017 @05:06PM (#13430774)
I'm not sure what you mean by "20-25% layer", but there are other taxes besides income tax in the UK too : National Insurance contributions, Dividend Tax, Capital Gains Tax, etc.

Overall, it's definitely less in the UK, but not enough to warrant saying French taxes are "through the roof" compared to them.

[ Parent | on HN ]
Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by user5994461 on Wednesday January 18, 2017 @05:16PM (#13430873)
In the UK. The income tax and the NI are both applied at the same time as a percentage of your gross salary. (Basically 20+11% or 40+2% if on the high tax bracket).

In France. The taxes are layered. There is your gross salary, then one tax is applied (25%)... then another tax is applied (11-45%) on what's left ... then it keeps going on.

[ Parent | on HN ]