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Tax Confusion? Chime in!
#21

lol - not the right wing anyway, unless you're already up there, and then you get all the help you want.
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#22

Interesting reading these posts from over here in the UK, you guys get off lightly!



We have roughly:



20% tax from £8k to £40k

40% tax from £40k to £150k

50% (dropping to 45% soon) from £150k+



This is on all earnings so includes interest in the bank etc!



In addition we pay something called national insurance of 12% on earnings up to £770 a week, after that 2%.



VAT 20%



Capital gains tax the same as income tax (although you get around £10k capital gains free of tax per year).



As for private education - at least 13k per year around my way per child..............
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