M0YNG , 17 days ago @randahl I might be missing a reply that explains more, but the 20% is only one tax. Income tax is between 0% and 45% depending on income, you pay that percent on income over each threshold https://www.gov.uk/income-tax-rates Plus we also pay national insurance (which is a tax) which is another up to 8% Employers also pay national insurance https://www.gov.uk/national-insurance-rates-letters We pay 20% vat on almost everything we buy with the money left https://www.gov.uk/vat-rates We also pay extra on fuel, alcohol, tobacco.
@randahl I might be missing a reply that explains more, but the 20% is only one tax. Income tax is between 0% and 45% depending on income, you pay that percent on income over each threshold https://www.gov.uk/income-tax-rates
Plus we also pay national insurance (which is a tax) which is another up to 8% Employers also pay national insurance https://www.gov.uk/national-insurance-rates-letters
We pay 20% vat on almost everything we buy with the money left https://www.gov.uk/vat-rates
We also pay extra on fuel, alcohol, tobacco.