Worrying about finances?

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Hi all

I'm currently working part time and earn under the personal allowance amount - however I have been offered a promotion and to move to full time work which would be great for me. I want to take it, but the tax confuses me. I have looked at things like this salary website ( income-tax.co.uk ) but I can't get it around my head. Can someone explain income tax to me in more simple terms or point me to some good, easy to understand resources?

Thank you in advance!!

Hi, I don't know taxes in UK.
I found https://www.thesalarycalculator.co.uk/
https://salarybot.co.uk/
Maybe it can help to find a net wage.

Once you're over the personal allowance amount (currently £11,850) 20% of your income will be taxen away in tax up to £46k, if you earn over £46k the tax rises to 40% of your income.

So say you earned £1500 in a month £300 of that would be taken away for income tax.

Ouch! is that really how progressive taxes work in the UK? that would be horrible!

In the US, only the portion of the income that is between the tax brackets is taxed at that rate so for example:

If a person makes 100,000 units of money (keeping it ambiguous because it's more a math example than anything)

Let's say the government exempts the first 10,000 units = 0 units tax
Then maybe between 10,000-50,000 units it's taxed at 10%... so that's 40,000 units taxed at 10%=4,000 units
Then maybe from 50,000 units to 100,000 units it's taxed at 20%... so that's 50,000 units at 20%=10,000 units

This hypothetical person would be taxed a total of 14,000 units for their 100,000 in income. Or an effective tax rate of 14%...

With a flat tax rate there would be certain cliffs where making 1 unit more could cost thousands of units in taxes... In your example above a person who makes £46k would bring home £36.8k but someone who made £46,001 would only bring home £27,000.60... that would incentivize all kinds of wonky income strategies!

(of course, all of this is one of many reasons that progressive tax plans are stupid... then of course the rich people get to exempt all kinds of money in order to avoid paying the higher rates and end up paying less effective tax rate than poor people which is super unfair and why I think flat taxes would be much better but that's a theoretical topic for another day)

Note: in my example above the math isn't quite how the US does it... instead the US gives standard deductions... which means rather than not taxing the first 10%, it actually removes it from the top 10%... so it's like the person made 80k units... So with 10k deduction, 0-50k @ 10% and 50k-100k @ 20% the hypothetical person would be taxed 5k+8K=13k or 13% effective tax rate... not that it matters but when I re-read my post the error bugged me so I wanted to correct.

Wow, that's so cheap! Does it seriously go like that over there?