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Showing posts from November, 2022

Are Taxes Higher in the UK?

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  We all end up paying high taxes in the UK when a country's money supply is created by banks. This is so that taxpayers don't have to foot the bill for bank-caused financial crises and because banks receive the proceeds from the creation of new money instead of the taxpayer Taxes high in the UK 1. THE PROFITS FROM MONEY-MAKING Paper currency, such as £10 notes, is still printed by the Bank of England. The government makes money on every single bank note it publishes because it only costs a few cents to print a £10 note. This profit on newly produced money totaled £18 billion between 2000 and 2009, which was enough to pay the wages of about 90,000 nurses throughout that time. However, the Bank of England only produces paper currency; banks are responsible for producing the electronic currency that we also use every day. Banks are the ones who profit when money is created; neither the government nor the taxpayers do. Banks raised the amount of money in the UK by £1 trillion thr

The Low-Down on Income Tax in the UK for Foreigners

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Current rates and allowances We are here to explain the in-depth income tax in the UK for foreigners . Things about Your annual income tax payment is determined by: what portion of your income exceeds your personal allowance what proportion of your income is subject to each tax bracket Tax-free income is some income. the period from 6 April 2022 to 5 April 2023 is the current tax year. Welsh speakers can access this manual as well (Cymraeg). Your own allowance, free of taxes The amount of income on which you are not required to pay taxes is known as the Personal Allowance, which is typical £12,570. If you apply for Marriage Allowance or Blind Person's Allowance, your Personal Allowance can be higher. If your income is greater than £100,000, it is less. Income Tax rates and bands The table displays the tax rates for each band that you pay if Band Taxable income Tax rate Personal Allowance Up to £12,570 0% Basic rate £12,571 to £50,270 20% Higher rate £50,271 to £150,000 40% Addition

Accountants in London - Get Accounting services for your Business

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