This site is intended for health professionals only

UK tax ‘among highest in world’

UK tax ‘among highest in world’

14 June 2011

Share this story:

High and low earners in the UK pay some of the highest tax rates in the world, according to new research.

A study by accountants UHY found that people earning less than £15,242 a year were being taxed at the seventh highest rate out of 19 countries as were those earning more than £121,900 per annum.

It found those in the UK earning £15,242 or less a year got to keep just 83.2% of their income.

In comparison, workers earning the same in Japan and the US got to keep around 90%, those in Ireland 95.7% and Dubai all of their earnings.

Meanwhile high earners in the UK take home only 60.9% of their pay once they have paid tax, considerably less than the 87% they would keep in Russia and the 80.4% they would retain in Egypt, while Dubai is tax-free.

Mark Giddens, private client partner of UHY Hacker Young in the UK, said: “The 50% tax rate on people earning more than £150,000 a year, combined with increases in national insurance, has undoubtedly made the UK less attractive to high earners. Many of these people will be highly skilled and they are usually very mobile.”

Copyright © Press Association 2011

Want news like this straight to your inbox?

Related news

ICBs Should Work With Primary Care Providers On Patient Safety Framework
Cervical screenings up by 15% on last year
The number of 25 to 64-year-olds to present for a cervical screening increased by 15.5%...
ICBs must evidence engagement with primary care, GPs say
NHS England must instruct ICSs to publish quarterly evidence of their engagement with primary care,...