VAT is a pretty big bite... But it's fair across the wealth spectrum...
On 10/11/16 6:38 PM, Chuck McCown wrote:
Looks to me that the tax bite is less than what I pay and they get NHS
to boot.
*From:* Jon Langeler
*Sent:* Tuesday, October 11, 2016 7:09 PM
*To:* [email protected]
*Subject:* Re: [AFMUG] OT England NHS & Tax
So what's your opinion compared to the US?
Jon Langeler
Michwave Technologies, Inc.
On Oct 11, 2016, at 6:57 PM, Chuck McCown <[email protected]> wrote:
From my daughter:
We pay an effective rate of 8.5% in direct tax on our combined
household income.
This is income tax (which pays for government services including the
NHS) and National Insurance which pays for pensions and benefits.
The largest indirect tax is VAT (sales tax) which is 20%. This is less
noticeable than sales tax in the USA because prices in the shops
include this in the price rather than being added when checking out.
Corporation tax (tax on business profits) is currently 20% (this is
being reduced to 19% in 2017 and is planned to go down to 17% in 2020).
