Funds Insider - Opening the door to funds

Welcome to the Citywire Funds Insider Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error

Total taxes
Michael Mannsberger
Posted: 12 January 2024 13:59:10(UTC)
#1

Joined: 12/01/2024(UTC)
Posts: 1

What do you think people pay in the UK in total? You pay enough tax in the UK, schools should be good. As they are not, people are forced to send kids to private school for example. So you could see this as a indirect tax on your wallet.

Let's base this on a person making £100k per annum.

1. Cost of sending kids to private school, as public is a disaster.
2. Road tax
3. Private medical, NHS a disaster and waiting times unacceptable.
4. Public Transport.
The government not only sets the fares, it collects them on behalf of the operators. The government then pays the operators a set fee for running the services which is dependent on performance.
5. VAT (20%)
6. Council tax
7. Income tax
8. Corporate tax (Increased from 19% to 25%)
9. Fuel duty (52.95p per litre)
10. Stamp Duty
Up to £250,000 Zero
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%
11. Alcohol duty rates
12. Tobacco products duty rates
13. Import/Export taxes

I'm sure there is a lot missing from this list.

+ Reply to discussion

Markets

Other markets