PAYE tax rates 2023
20% on annual earnings above the PAYE tax threshold and up to £37,700
40% on annual earnings from £37,701 to £150,000
45% on annual earnings above £150,000
Time to sit on benfits i think.
So exactly the same as it is right now and you weren’t complaining the last 7 months. I’m trying to see where the problem is. It’s still over £4000 higher than it should be had the personal allowance risen at the normal rate it used to up to 2010. When Labour came into power the personal allowance was £4045 and when their 13 years in power ended it was £6475, a rise of just £2430 over 13 years. Over the last 12 years of the Tories it’s risen from £6475 to £12,700, a rise of £6,225 which is over two and a half times more than Labour the supposed party of the working man did.
Oh and by the way your numbers are wrong. The 45% applies from £125,000 not £150,000.
Daani:
Time to sit on benfits i think.
What a great idea. Go from several hundred quid a week to £75 just because there’s been no rise in the personal allowance this year so you’d be paying an extra £100 or so tax compared to if there had been. I’m guessing you are usually skint by next pay day.
^^^^
and the inflation rates in those periods?
The Tories are all about minimising income tax for the highest earners by putting the highest burden on the lower bands and regressive purchase taxes and council tax.
Labour’s ideas are even worse.
.
Daani:
PAYE tax rates 202320% on annual earnings above the PAYE tax threshold and up to £37,700
that’s very misleading by missing out the £12570 personal allowance.
It’s not until £50,270 (a decent wage, far better than benefits)
40% on annual earnings from £37,701 to £150,000
45% on annual earnings above £150,000
Wrong. 40% is £50,270 - £125,140. You’re right. We’ll be much better off on benefits than paying taxes!
Time to sit on benfits i think.
Great! I’ll have your job thanks
Why is it that the more sensational the headline, the less the story lives up to it?
Yeah got your sims wrong there kidda…
But the principle of freezing tax brackets and freezing them for so long without any rise is just a slap in the face. Maybe I’m more bitter because its going to hit me much harder and much more directly than others but still…
If they’d gave raised rax bands by 10.1% now then said freeze for x years I think it would’ve been more palatable, but it does kinda feel like a kick in the feelers for the vast majority of the population including pensioners who now only need a very very modest private pension on top of a state pension to be dragged back into the tax system.
stu675:
Daani:
PAYE tax rates 202320% on annual earnings above the PAYE tax threshold and up to £37,700
that’s very misleading by missing out the £12570 personal allowance.
It’s not until £50,270 (a decent wage, far better than benefits)40% on annual earnings from £37,701 to £150,000
45% on annual earnings above £150,000
Wrong. 40% is £50,270 - £125,140. You’re right. We’ll be much better off on benefits than paying taxes!
Time to sit on benfits i think.
Great! I’ll have your job thanks
Is this incorrect then?
Carryfast:
The Tories are all about minimising income tax for the highest earners by putting the highest burden on the lower bands and regressive purchase taxes and council tax.
Labour’s ideas are even worse.
LOL. The top 1% pay 28% of all income tax received by HMRC, the top 10% pay over half of all income tax received by HMRC, the bottom 50% pay just 10% of all income tax received.
toonsy:
but it does kinda feel like a kick in the feelers for the vast majority of the population including pensioners who now only need a very very modest private pension on top of a state pension to be dragged back into the tax system.
If they’re not already in it they won’t be in it for 2022-23 unless they draw out more of their pension as the personal allowance has stayed the same. Someone who is on an annuity or DB/DC who isn’t paying tax this year won’t be paying it next year.
Is this incorrect then?
gov.uk/guidance/rates-and-t … 22-to-2023
[/quote]
Oh i see now the personal allowance is not included on that figure which will take it to 51k around about.
Thanks for the clarification
Daani:
Is this incorrect then?gov.uk/guidance/rates-and-t … 22-to-2023
Oh i see now the personal allowance is not included on that figure which will take it to 51k around about.
Thanks for the clarification
How funny someone who doesn’t understand how tax thresholds work getting outraged at an article about tax where the only change is that the rich are to be taxed even more.
Daani:
PAYE tax rates 202320% on annual earnings above the PAYE tax threshold and up to £37,700
40% on annual earnings from £37,701 to £150,000
45% on annual earnings above £150,000
Time to sit on benfits i think.
Dont forget national insurance 
Daani:
PAYE tax rates 202320% on annual earnings above the PAYE tax threshold and up to £37,700
40% on annual earnings from £37,701 to £150,000
45% on annual earnings above £150,000
Time to sit on benfits i think.
Is this the bit that “■■■■■■ us all off”? 
Winseer:
Daani:
PAYE tax rates 202320% on annual earnings above the PAYE tax threshold and up to £37,700
40% on annual earnings from £37,701 to £150,000
45% on annual earnings above £150,000
Time to sit on benfits i think.
Is this the bit that “■■■■■■ us all off”?
Lol im used to dubai. Takes a little getting used to the tax system here
Daani:
Is this incorrect then?
Oh i see now the personal allowance is not included on that figure which will take it to 51k around about.
Thanks for the clarification
[/quote]
Thank god.i don’t live in Scotland there be paying more. In tax and higher rate on less than the UK/ English threshold
I used to work with a guy (generally known as Flat Battery to the rest of us 
) who moaned about everything all week long, and he ramped it up to double on Thursdays (payday, in those days of the little brown envelopes) starting on about tax and NI
The rest of us went with the philosophy “You have to be earning it for them to take it off you”.
Mind you, that was the early eighties, in the north, lots of unemployment going around so not a lot of sympathy for whinging fannies back then. (Is the bad language filter going to edit that? EDIT apparently not)
Conor:
If they’re not already in it they won’t be in it for 2022-23 unless they draw out more of their pension as the personal allowance has stayed the same. Someone who is on an annuity or DB/DC who isn’t paying tax this year won’t be paying it next year.
The point I’m making is that state pension is going up by 10.1% to about £10,600 each year. If someone has a modest private pension paying £2,000 per year they are into the tax system again. Only marginally. Say it goes up by the lowest it can in future years, so 2.5%, with the bands frozen for another five years they will end up being dragged pretty much back into paying tax
2024 pension will be £10,865
2025 will be £11,136
2026 £11,415
2027 £11,700
2028 £11,992
They will then be taxed on that modest pension.
Obviously a number of people have more significant private pensions so already pay more, but those at the margins of the tax bands lose the most and have the least to lose.
For me personally it puts me in the higher rate bracket, which I can negate right now by upping my pension contributions but it will get to a point with future pay rises where I’m essentially just shoving more and more away to keep me under 50k.
I’ve already stopped doing any overtime and I’m looking at dropping a day a week to keep me under because there’s no incentive when I’m losing 40% of any extra. I’d rather not have it at all than lose such a proportion. It’s hardly conducive to encouraging people to get on and be more productive.
toonsy:
.For me personally it puts me in the higher rate bracket, which I can negate right now by upping my pension contributions but it will get to a point with future pay rises where I’m essentially just shoving more and more away to keep me under 50k.
I’ve already stopped doing any overtime and I’m looking at dropping a day a week to keep me under because there’s no incentive when I’m losing 40% of any extra. I’d rather not have it at all than lose such a proportion. It’s hardly conducive to encouraging people to get on and be more productive.
I’m sure you know, national insurance drops by 10% at the £50,270 point. So it’s not as much of a cut off as you make out.
32% combined up to £50k and 42% above.
Conor:
LOL. The top 1% pay 28% of all income tax received by HMRC,
Lets not feel too bad for that top 1% though eh ?
Amount needed to earn to qualify as top 1% in UK £688,228
How much wealth do the top 1% earn per year 21% of total UK wealth
So they take home 21% of the UK PLC take home and pay 28% of all tax…That doesn’t take into account creative accounting nor criminality. Nor does it address Corp tax avoidance and dividend tax used as take home lol.
1% of workers take home 21% of total pay…
Isn’t it fantastic the way you can present the exact same stats and show a very different message.