Is UK tax as crazy as it seems? I have seen a lot in the press and on social media about the rich leaving the UK The main reason... TAX So I wanted to take a little look into this I imagined I was a reasonably, half successful businessman for a minute and decided to ficticiously buy... £1,000,000 house £200,000 car £25,000 watch I paid myself a £150,000 salary And my business made £500,000 profit The house incurred stamp duty at £43,750 (thank God it wasn't a second home as that would have been £93,750!!!) The car incurred £33,333 VAT The watch incurred £4,166 VAT My salary incurred £59,000 tax and NI My company profits incurred £125,000 corporation tax The grand total of tax paid was a whopping £265,249 Yep - a quarter of a million quid Granted, people don't go out and buy that stuff or make that profit/salary every day, but it does show how much tax a reasonably, half successful businessman might pay in the UK So yes, The tax system in the UK is as crazy as it seems

Posted by Sam Bastow at 2025-07-14 14:08:43 UTC