How Much Income Tax Do You REALLY Pay? (UK Taxes Explained)

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Title	:	How Much Income Tax Do You REALLY Pay? (UK Taxes Explained)
Lasting	:	9.52
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Comment from : Honest Money

Hey guys, I'm looking to invest but I don't know anything about the market Any help? As well who can I reach out to?
Comment from : Elise Miller

Might be a good idea to make a video on how to pay as less as possible
Comment from : Slava Mamont

Pls help I have two full time jobs one is 375 hours a week in hospital and second is 40 hours a week in security job (excluding breaks ) brbrI work on NIN ON BOTH JOBSbrbrmy job in hospital they pay me every two weeksbrbrmy second job in security they pay me monthly I have just started this security job recentlybrbrnow my question is how much will my tax go? if I have to pay the emergency tax in second job ? because both jobs are full time so there is no primary and secondary job , both are 40hours jobs
Comment from : S_🌾

Darren: Thanks for this A minor point: employees bmay/b have to pay 5 pens con - depending on what their employer pays A total min of 8 is required, with employer contributing at least 3 (thus employer 5) But employer could pay all 8, thus employee may choose to pay nowt 5 is thus notionally reasonable but should not be assumed Tax relief is of course received on it so 5 contribution doesn't quite equate to 5 less net income
Comment from : Marcus Stewart

Compared to Portugal or Spain this is still much much lower
Comment from : Diogo Carneiro

So the Usa or the eu don’t pay anything like we pay in taxes according to you LMFAO try doing the same equations for both of them and let the people of the uk know your findings by the way I’m a tax expert of 40 years you mate are a lefty loon giving out false crap
Comment from : Phil

Why are all the residents being milked dry? This just feels like another form of slavery? Time to start trading in Bitcoin
Comment from : Dakota

The middle class pays for everything They pay for the rich and the people on welfare
Comment from : zoom

Why do we fund a peado file government that just leeches off the nation this needs to end
Comment from : D

I pay the top rate I am only 35 and I don't even own a house yet But I still hear people claiming people like me should be paying more in taxes It's truly unbelievable I am seriously rempted to move abroad The entitlement of the tax man/members of the public is unbearable, no gratitude, no thanks, nothing Yet I am paying FAR more than my fair share I don't use any services, I just dare to earn more I have no family, no dependents etc (I don't want marriage or kids) so I am deemed a fair target It's messed up
Comment from : Blackbeard64

The fact this hasn’t been commented yet makes me feel that I must be wrong But the bracket 100k-125k is actually effectively income taxed at 50 brbrIt would be 60 between £100k and 1125k if you lost your tax-free allowance pound-for-pound, not pound-for-two-pounds
Comment from : Chris E-B

The UK is one BS robbing country
Comment from : H

You've missed so called employer's NI contributions, those are paid by the employees as they comprise the cost of hiring You've also missed VAT for companies
Comment from : rumco

One of my leftie clients the other day said to me "fuck the tories! They're the most right wing government in history" I said are you insane? What's right wing about them? Is it the highest taxes ever? Is it the highest immigration levels in history? Is it the woke nonsense language policing? Obviously they are retired, the only people with any money
Comment from : lee jones

Thank you TIKHistory for telling me about this specific video and this channel
Comment from : TheDaas100

I wonder how human being being the most complex or superior amongs all animals are still living in the burden or cages of these fuxkng government laws
Comment from : updated world

Now erode the pittance you have left through inflation caused by them printing money, because they can’t manage finances - despite robbing us blind
Comment from : Stephen MacKenzie

Employer’s NI, main reason I subcontract at the moment rather than employ
Comment from : FiscalWoofer

The loss of tax free allowance above 100k results in 10 tax increase above the higher tax rate not 20 like in your video (for every two pounds earned you lose one pound in allowance which is taxed at base rate of 20, so 10 overall) Also I think for the sake of comparison it would be good to add Employer NI for the salaried part And for fun add VAT to what is left for every 100 pounds we earn we owe the government 10 pounds ;)
Comment from : MalavitaOfBB

Exactly why I left the uk
Comment from : Mack The Ripper

Gavin Please help meunderstand: brwith so many people on income benefit , housing benefits, fake disability benefits and motility benefits what percentage of every persons tax goes toward benefit to others?
Comment from : ALI S

Exaclt so, who would even want to work hard anymore when a father mechanic can't even sustain his family with his wage because tax and ESPECIALLY RENT is high af Welcome to UK, but hey NHS is somewhat free but there's years of waiting lists
Comment from : RD69

Add an extra 10 for those paying back student loans too
Comment from : QD

Lol, no total effective Literally describes why the personal allowance reduction isn't correctly described in the actual video Is this a test to be called out to see if your subscribers pay attention?
Comment from : Edward Scrase

Looks like it's a post-colonial empire on a massive decline
Comment from : Internet User

The most demotivating video ever
Comment from : Ryan Butler

I wouldn't mind paying the high taxes if we had functional tax paid services With the amount we pay we should be able to have cheap public transport, great infrastructure, a stellar education system, and grants on green initiatives Not seeing or feeling it :(
Comment from : Sal

What about if you are just living off capital gains, like a CFD trader? I am trying to understand how that works now with the changes
Comment from : NearlyZero

Awesome videos!
Comment from : KitPimp UK

This is engineered to keep everyone in the hole
Comment from : Night Narrator

Taxation is theft
Comment from : Pygmalion

What about dividends, rental income and stocks/shares? If I am not an employee and I earn £10k, £50k, £150k py, but not as a salary What is my tax bill? In the UK is it 13 tax?
Comment from : Wanda Keenan

over 150K plus there are other ways to avoid or reduce tax
Comment from : Futures

I can believe what the Consocialist government has done to disidentify small businesses with tax hike after tax hike starting with George Osborne, through Rich Kid Sunak and now Slimy Hunt They have all done huge amounts to punish entrepreneurs
Comment from : Martyn Bush

Ever looked at moving to the Isle of Man? Or setting up you companies via an accountant there?
Comment from : Liam R

Your better of working minimalbrHours claiming benefits instead
Comment from : Sweet Vuvuzela

For all you foreigners, our NHS is not FREE, it is all paid for by the people, and it should be in far better shape than it is!
Comment from : WickedBrit

Evil country system to punish the hard worker go poor
Comment from : Carlton House

You haven't mentioned next year's 6 increase in corp tax, and all the taxes paid when you spend/save/invest the money Why is it so much, where is all of it going??
Comment from : mobileplaylists

1325 national insurance rate has gone
Comment from : Stewart Thomas

Robbery
Comment from : Nicholas Clark

Add VAT and car tax fuel tax community tax and i could go on, you may be paying up to 87 of what you earn, its roughly what i was paying with a small company and gave me no incentive to do it any more, its theft
Comment from : rob thomson

the UK Government shouldn't be taxing anyone under 20k; if you agree can i get a like?
Comment from : J 1

Don't forget corporate VAT on over £80k , student loan, pension, VAT on everything you buy, council tax, road tax, BBC TV tax, insurance, MOT, inheritance tax, CGT it never ends That's why rich gets richer - they have no income and therefore no tax They have wealth which cannot be taxed Poor people get support Mid people get squeezed- worse position to be in
Comment from : Kabir Uddin

this is just to start with The full amount paid is a bit more than that when you take into account VAT and all other smaller ones added to products, fuels, etc
Comment from : John Lennon

Income tax was only for matters Of war, meaning to pay the military to fight for our freedoms So basically since 1914, we people, and future people, are at war, and still paying for a non-existent war
Comment from : Stephano De orens

As an online poker player I don’t need to pay any income taxes
Comment from : skillfuldabest

Maybe they should find a different way of fueling their bullshit machine instead of taking it off hard working people
Comment from : ridiculous P

People need to wake up and ask if they are obligated to pay tax, which they're not
Comment from : The System

The 63 is niche to a few pounds and is never actually 63 of total income, under any circumstances
Comment from : Dan Neale

At this point if you are an entrepreneur / high earner the only solution is to pack your bags and leave and restructure your income / business around a zero tax jurisdiction
Comment from : Alexandre Soares

You have forgotten the NI by the employer, which is essentially money that should have been given to you as salary
Comment from : B C

Its every citizens duty to cheat the mafia
Comment from : Richard Brown

Why on earth are people still paying taxes to this crime syndicate?
Comment from : Richard Brown

Born free…taxed to death…
Comment from : Terry

Add inflation to the 63 @ around 18+ Inflation is a stealth tax…
Comment from : Terry

I pay 17 in Switzerland and everything just works here
Comment from : James Ball

Inheritance tax is also a joke
Comment from : Cal

It used to be 99p in the pound, so what’s your problem?
Comment from : david

i had to do a self assessment tax return on PAYE earning 51k why?
Comment from : bruhbruh

Let's not forget the IHT (and 7 year gift clause that most people don't know about), CGT and VATjust to really shaft brits Also only 13 of tax payers )the entire population in the UK 65 milltaxpayers 30 mil) earns £50k+ Yet a standard house is £250k - £450kmeaning you must be in a relationship most of the time to afford a house at 5x salary The only other way is to either earn moreso be in the top 13 of earners, have influx for a higher deposit from deceased family, or live at home if possible into your 30's / 40'sno idea why no one talks about this more brbrfor every £10k you earn yearly you only actually take home £557 extrabrbrIt's no wonder productivity is crap when you're expected to do so much more work for just £557 a month over a minimum wage jobThe 'average wage' in the UK is £27k brbreg br£165k a year your take home is £1266br£265k - take home £1822br£365k - take home £2379brbrBearn in mind for a 14 bed manor in France it's £400k brFor houses across Europe you can buy them from as little as £5k or £25k for a half decent one (eg in Germany you can buy a 10 bed house for £25kat least in 2019 when I was looking and their minimum wage is 12 euros an hour and the Euro is pretty much on par with GBPso who has the more comfortable life? And yet brits were told to leave the EU and now they're totally screwed with an economy that is literally imploding because all foreign investors have moved back to their own countries and Ex pats have been forced to sell up and move back to the UK to be shafted even more
Comment from : A2ZBRANDED USA

There are some other taxes which you haven't included Always get professional advice!
Comment from : B M

Sounds like the Netherlands only lower and easier to understand
Comment from : Bart Van Riel

Thanks for the video These rates are disgusting
Comment from : Roly The Holy Paladin

Even surfs only paid 10 to the Lord Our ancestors would weep if they could see us
Comment from : humanati

So what about the 19 instead of 20 has that been scrapped ?
Comment from : Ade Fegan

Pfft, ive not paid the tax man in the last 30 yrs have no intentions of doing so any money i earn is all mine fk the tax man
Comment from : mavis spearhead

Not to mention that all this money we're paying goes to fund a criminal govt serving a criminal family ;)
Comment from : Abu Muhammad

In the Netherlands we pay more
Comment from : bb

You forgot VAT which is a 20 tax on pretty much anything that you have left
Comment from : uberwayz

Just watched your interesting video on TaxesbrCould you now add VAT, council tax, road fund licence, tax on petrol, if you smoke and drink Alcohol taxes,ppi tax,savings tax, stamp duty, inherited taxTheir are also congestion charges if you need to go to London to work I know that some of these taxes do not applie to some such as none smokers and poeple who abstain form alcohol, but just would be good to know how much someone who does partake in the above would actually pay on the pound they earn Just VAT which we pay on most items is an Extra 20 so the average person is already paying 53p on every pound the earn over £12570 that's frightening enough befor you add the let say £1500 pounds average in council tax and their are so many other taxes we probably just don't think about
Comment from : Paul James

Great video
Comment from : Derek Reed

Isn't tax a contribution? Noun Contribution a voluntary gift! Common sense says it's at your discretion if you want to pay tax national insurance etc etc 😉🤔 also ask yourself why didn't king Charley pay any inheritance tax! Wake up people 😲 I know you're all going to say it's the "law" no you believe it's the law Like you believe the fiat currency you hold is real! It's a debt note that has no value, it's backed by a promise, it even say's it on the note "I promise to pay the bearer on demand" what are the Banksters promising you? NOTHING They just keep printing it hoping you don't notice
Comment from : A&P

I thought NI had been reduced back to 2 again from Nov 22?
Comment from : David

The UK is drowning in Tax
Comment from : Gary david

ShockingbrAlso there are interest rates for those on mortgages, vat, road tax, insurance, private pension, council tax, water bill, mot, and will tax
Comment from : the bees nuts