Tax system in London

In order one city to be prosperous  and good for living, its important to have a good tax system, because the government invests them back in the city urbanization. London is one of those places, where you can meet a high salary job position and standard of living and at the same time, big tax return percentage. No matter, in which sphere you work or how much you make,  its obligatory to pay taxes or the government is going to take them from you. In this way, you support the community, because most of them go for insurances, health care system and many other facilities, which are making London more sustainable and good for living. In order to be more understandable for my audience, I will make a simple calculation of how much you are going to pay for a certain amount of your annual salary.

In London you have two level of taxes, giving you exact information how much you give to the city municipality.

its 20% up to 36,000 pounds annual gross income

40% over 36,00 pounds.

For example you earn 50,000 pounds. There is simple equation, which will calculate in the best way for you how much you are going to give for a taxes during the whole year. First of all, every citizens have a personal allowance of 5, 435pounds. So, the formula is simple: 20% * (36,000) + 40% * (50,000 - 36,000 - 5,435)= £10,626.

Basically, one fifth of your annual salary will go for a taxes. People which works in London hotels are paying less, because of their salary amount. In order to be competitive on the market, all hotels in London are always hiring knowledgeable and skilful staff, because the money must be deserved.