Rich Taxpayers Pay Less Tax Than Poor in UK
June 30, 2015 Taxation in UK
LONDON – New research has shown that high income earners see a salary far exceeding that of low income earners, and, additionally, they pay a much lower tax rate.
According to the results of new analysis conducted by the UK Office of National Statistics, low income earners in the UK pay a higher portion of their yearly salaries as income taxes compared to the highest earners in the country.
On average, the lowest earning fifth of households in the country see approximately 37.8 percent of their annual incomes paid out as taxes.
Comparatively, the highest fifth of earners see only 34.8 percent of their income come out as tax.
It was shown that while there is a significant difference in the rates of taxes paid out, high income earners still paid a larger monetary amount due to their higher incomes.
It was also shown that the average income among the top fifth of earners was approximately GBP 80 800, while the income level of the lowest fifth of earners was found to be only GBP 5 500.
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