Britain’s tax take is getting bigger but not better
From VAT to income tax, distortions and complications proliferate
The 2022-23 tax year ended on April 5th. The dates are the simplest aspect of the British tax system. People in England, Wales and Northern Ireland pay a basic rate of income tax of 20% on annual earnings over £12,570 ($15,612); Scotland has its own rates. Britons must also pay national-insurance contributions (NICs) of 12% of weekly earnings over £242, unless they are over the pension age or self-employed.
This article appeared in the Britain section of the print edition under the headline “Tax brakes”
Britain April 15th 2023
From the April 15th 2023 edition
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