Why is the UK Tax System so Weird

Video Description

Grab a copy of Too Long: https://toolong.news/support In this video, we’re going to have a look at why there’s so much strangeness in the UK’s marginal tax rate, and why basically wherever we look in the tax system, we find weird rules and caps. 📰 Too Long: https://toolong.news/ 🎞 TikTok: https://www.tiktok.com/@tldrnews 💡 Got a Topic Suggestion? - https://forms.gle/mahEFmsW1yGTNEYXA Support TLDR on Patreon: http://www.patreon.com/tldrnews Donate by PayPal: https://tldrnews.co.uk/funding Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought. TLDR is a completely independent & privately owned media company that's not afraid to tackle the issues we think are most important. The channel is run by a small group of young people, with us hoping to pass on our enthusiasm for politics to other young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can't wait to grow further and help more people get informed. Help support us by subscribing, engaging and sharing. Thanks! SOURCES Tax Policy Associates on Marginal Tax Rates https://taxpolicy.org.uk/2024/06/18/what-are-marginal-rates-and-why-do-they-matter/ BBC News Explainer on Marginal Tax Rates https://www.bbc.co.uk/news/58870012 High income Child Benefit Tax Charge https://www.turn2us.org.uk/get-support/information-for-your-situation/child-benefit/high-income-child-benefit-tax-charge Income Tax and Personal Allowances Government Explainer https://www.gov.uk/income-tax-rates/income-over-100000 Capital Gains Tax Government Explainer https://www.gov.uk/capital-gains-tax/rates