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Steven Jensen Posts: 2 Joined: 19th Jun 2010 Location: USA | quotePosted at 22:56 on 19th June 2010 I know this is a simple question,but someone may have ideas. Why is England so expensive and why so many taxes? Does anyone than know what is the average total tax rate paid,Like the percentage of income. We would like to retire in England,but would like to know,what we would be getting into.Please help.Steve |
Paul Hilton Posts: 2605 Joined: 21st Nov 2004 Location: UK | quotePosted at 08:12 on 20th June 2010 With the Budget comming up on Tuesday, any figures quoted will possibly be incorrect in 2 days time. But, in the meantime, you might like to browse the former Chancellor/PM's 157 new or increased taxes Gordon Brown introduced during his term which raised untold £billions, yet clearly still wasn't enough which makes you wonder where it all went? http://myweb.tiscali.co.uk/garbagegate/item2/stealth.htm And if you want to retire over here, I'd also check the situation with any possibility of double taxation---on money being taxed in the US that might also get taxed here too. UK pensions are taxable income, usually 20% as the standard rate of income tax, but this over-simplifies things. HMRC 's website might also be of use too to see tax rates of things that might be applicable to your situation. I think professional advice in the US would be in order. |
Paul Hilton Posts: 2605 Joined: 21st Nov 2004 Location: UK | quotePosted at 12:31 on 20th June 2010 Here's a video from yesterday showing the No To Bike Parking Tax protest on the M25 at Dartford. Several of these responsible bikers also demonstrate lane discipline and giving way to vehicles already in a lane they want to use, for our overseas visitors who may not have driven in the UK before. |
cathyml Posts: 23275 Joined: 25th Jan 2010 Location: South Africa | quotePosted at 15:57 on 20th June 2010 England is a welfare state! The money has to come from somewhere, therefore high taxation (lol) on those who actually work!! We do NOT have a welfare state and we are paying up to 40% on income tax (depending on the income earned of course)!! |
Paul Hilton Posts: 2605 Joined: 21st Nov 2004 Location: UK | quotePosted at 18:35 on 20th June 2010 The current income tax rates--after your tax free allowance as might be, are..... £0---£37,400 per year-- 20% £37,401 to £150,000--40%. Over £150,000--50% |
Ted Posts: 733 Joined: 14th Jan 2009 Location: Netherlands | quotePosted at 11:22 on 22nd June 2010 Income tax in England is not that bad compare to the Netherlands < 18,218euro (15.000 pound) 33.45% 18,218 < 32,738 euro 41.95% 32,738 < 54,367 euro 42% > 54,367euro 52% (and still rising) |
Linda-mary Sigley Posts: 195 Joined: 27th Jul 2010 Location: USA | quotePosted at 00:24 on 13th August 2010 Gentlemen & lady, in USA in the 1950's for those making approx. $100,000 per year (and over) was 90%...and that was with Republican Pres. Dwight Eisenhower in Office from '53 to Jan. 20, 1961. I don't believe it was changed by either succeeding Pres. Kennedy or Lyndon Johnson therefore it must have been lowered later. However, people of great wealth here are simply raking off the middle and lower class. I'm happy about President Obama's healthcare plan, even though it will probably not affect us. |
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