Hey guys,
Does anyone here know anything about this?
Basically, i just do not understand it.
From the Inland Revenue website, it says that if you earn up to £33300, you get taxed at 22%, and anything more than £33301, you get taxed at 40%.
Now, what does that really mean? If i'm on £33300, i would take home, after tax, around £2100 a month. Does that mean that if i jump of even just £1 and get £33301, i get taxed 40%, taking home around £1660? That would mean that i would actually earn less than when i was on £33300 until i'm on £42000?? That can't be right...
*confused*
Does anyone here know anything about this?
Basically, i just do not understand it.
From the Inland Revenue website, it says that if you earn up to £33300, you get taxed at 22%, and anything more than £33301, you get taxed at 40%.
Now, what does that really mean? If i'm on £33300, i would take home, after tax, around £2100 a month. Does that mean that if i jump of even just £1 and get £33301, i get taxed 40%, taking home around £1660? That would mean that i would actually earn less than when i was on £33300 until i'm on £42000?? That can't be right...
*confused*