Do you know how your taxes work? Before coming to the UK and starting working, I had no ideas how taxes worked - how they are handled, how much money is supposed to be taken from my salary and where the money is going. It took me some time to learn about it. The video below is a great summary of everything you need to know about taxes. I wish I had found it sooner haha. Enjoy watching!
It’s fascinating to learn how the UK tax system functions, isn’t it? I never realised how complex it is and how much thought goes into determining how much we pay. Do you think the system is fair, or do you believe there should be changes to it? I’d love to hear your thoughts!
I think the system is quite fair, especially when it comes to the stages of how much you are charged based on your income. This combined with the 12k allowance income sum which is not taxed ensures that people with lower income actually get some money in their own pockets!
Thanks for sharing this! Taxes can be so confusing, especially when you’re new to a country’s system. I’ll definitely check out the video to brush up on my knowledge. Thanks for the heads-up!
Actually, this is very timely! And such a good explanation too😁