What you really pay on the 20p tax rate

The TaxPayers' Alliance February 25, 2015 10:38 AM

The basic rate of tax is the 20p rate, right? Wrong. By the time you add in Employer's and Employee's National Insurance and Student Loan repayments, the average employee on a salary between £23,000 and £42,000 is paying almost 50p in tax. 20p? Hardly.

Latest Blogs:

TaxPayers' Alliance Icon

Windfall fail

10:08 AM 13, Aug 2018 Duncan Simpson

TaxPayers' Alliance Icon

Education spending and teachers' pay

7:10 PM 16, Jun 2018 The TaxPayers' Alliance

TaxPayers' Alliance Icon

But that wasn't real socialism...

4:04 PM 23, May 2018 Matt Gillow

TaxPayers' Alliance Icon

Food would be cheaper outside the customs union

4:20 PM 14, May 2018 James Price