FFH
Veteran Member
1.00 US = .60 poundsNo you are correct, but it depends on your income...
I think the first 6000pounds is free (dont know the exchange rate at mo so cant say what that is in dollars), then its 20% and then those that are earning over 40,000pounds (I think) get taxed 40%...I think they were thinking of bringing in an even higher one for those earning more that 100,000pounds...not entirely sure what it is though or if it was even passed.
10000 dollars equals 6000 pounds.
We can earn from 8 to 10 thousand tax free, depending on marital status, kids, etc. it could be more or less of course.
In the US it's the same. The more you make the more you pay. It goes up to 50 percent at around 100,000 dollars. It's like 30 percent at around 60,000 dollars and you can earn up to like 40,000 dollars and pay around 20 percent.
But that's not factoring in Social security and Medicare taxes which are probably close to 10 percent added onto the figures I just quoted.
Those are rough estimates. I'd have to look them up again to make sure.
Looks like the UK is really not much higher than the US taxes right now.
In fact, our taxes look like they are equal or higher than the UK if I factor in Social Security, Medicare and Medicaid taxes which are close to 10 percent.
But still gas and living expenses are less here.
I know do recognize it is in fact tougher to make a living over there cuz money didn't seem to go as far in London, compared to other areas of the world I've been in. Gas was like double what it is in the states, in Europe. The same size hotel was like double what it is in the states, etc., etc. We ate at one restaurant in London and it was just way too much, so we ate canned stuff from the grocery store while in London.
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