UK Treasury trying to find a Head of Cyber Security for £55k

Re:UK Treasury trying to find a Head of Cyber Security for £55k by jstx1 on Sunday April 02, 2023 @06:41AM (#35409147)

Your numbers are way off. From next week it's:

    Basic rate of 20% on earnings between £12,571 and £50,270.
    Higher Rate of 40% on earnings between £50,271 and £125,139.
    Additional Rate of 45% on earnings from £125,140.

You also gradually lose your tax-free allowance if you make over £100k so there's a weird dead zone in which your marginal rate is something like 60%.

Then there's NI which is effectively tax too but isn't listed in the bands above. Someone on £150k is paying 40% tax and NI (total, not marginal). Not quite half but it's now low either.

[ Parent | on HN ]

Re:UK Treasury trying to find a Head of Cyber Security for £55k by LandR on Sunday April 02, 2023 @07:52AM (#35409593)

Are for those of us in Scotland, that 40% is 41% :/

[ Parent | on HN ]

Re:UK Treasury trying to find a Head of Cyber Security for £55k by teh_klev on Sunday April 02, 2023 @10:20PM (#35417781)

Yes and kicks in at just over 43k :(

[ Parent | on HN ]

Re:UK Treasury trying to find a Head of Cyber Security for £55k by Jochim on Sunday April 02, 2023 @08:38AM (#35409914)

The problem is most people simply aren't rich enough. The effective tax rate of our current, and richest, prime minister was only 22%. I'm on the low end of the higher rate bracket and already pay more than that, before counting NI/loans.

[ Parent | on HN ]

Re:UK Treasury trying to find a Head of Cyber Security for £55k by teh_klev on Sunday April 02, 2023 @10:19PM (#35417777)

That's for England and Wales. In Scotland it's different:

Personal Allowance Up to £12,570 0%

Starter rate £12,571 to £14,732 19%

Basic rate £14,733 to £25,688 20%

Intermediate rate £25,689 to £43,662 21%

Higher rate £43,663 to £150,000 41%

Top rate over £150,000 46%

Source: https://www.gov.uk/scottish-income-tax

[ Parent | on HN ]