UXDE dot Net

What You Really Pay on the 20p Rate of Tax

By -

Nobody likes to pay tax, but whether you like it or not, it’s an inevitable fact of life. But how much tax do you actually have to pay?

To help answer this question for UK nationals, See What You Mean has produced a beautifully illustrated motion graphic, examining how much money you actually receive after taxes in the UK:

As the creator explains:

The tax and deductions on your job are much higher than you might think. The Government likes to talk about a ‘20p rate’ – as if that’s all you pay. But actually, for a typical middle income graduate, total deductions are more than 48p in every pound earned (over the £21k threshold). And will rise to nearly 60p when the statutory pension scheme comes in by 2018.

What will it do for the incentive to work and do better, and to the UK’s general prosperity, when graduates only get 40% of any extra they earn?

It’s certainly food for thought! Particularly once you start earning over £21,000 per year.

John Pring

John Pring is the Managing Editor of Visual Broadcast and an experienced data visualisation and infographic specialist. His main interests include literature, football, art & design, infographics and visual storytelling, and you can find him on Twitter @designbysoap

Leave a Reply

Your email address will not be published. Required fields are marked *

Are you human? *

Get the best of Visual Broadcast in your inbox

Enter your email address below to receive our monthly newsletter with the best content from Visual Broadcast

We hate SPAM and will never share your information with third parties