alt Hacker NewsThe UK tax system also has a bunch of unfortunate cliffs, and tapers that create >60% marginal tax rates and worse. There's a calculator here that illustrates it well https://tax-cliffs.britishprogress.org/calculator
The childcare cliff edge is probably the worst, but the personal allowance taper isn't ideal either as it's compressed over a relatively short income range
And of course all the thresholds remain frozen, creating plenty of fiscal drag on top.
Replies
ajsnigrutin • yesterday at 5:05 PM
Same in slovenia for eg. kindergarten prices, 1eur over the line, 90eur more per month in fees.
➕ show 1 reply
subscribed • today at 1:49 AM
What's most infuriating it's only the job income, work, that's taxed like this.
Passive income of any sort? Bribes from the lobbying groups? Absolutely not.
➕ show 1 reply
The Economist has this crazy graph of UK VAT thresholds and how they are causing companies to stay small, to keep their turnover under the threshold which avoids a lot of paperwork. It's the most infuriating thing, we are literally throttling our companies, the engines of growth, because of some accounting stupidity.
Graph: https://www.economist.com/cdn-cgi/image/width=600,quality=10... from this article: https://www.economist.com/britain/2024/04/22/how-to-fix-brit...