Is an annual salary of £100k really enough in the UK?

Is an annual salary of £100k really enough in the UK? There were as many as 1.35 million taxpayers earning over £100,000 in the UK during the 2022/23 tax year, according to data obtained from the UK’s tax collector, HMRC. But more and more people who see their pay hit the threshold express their disappointment that it doesn’t go as far as they’d expected. What’s behind this? One explanation is the high rates of inflation the UK and other major economies have seen over the past four years, with price rises peaking at a whopping 11 per cent in October 2022. That means every extra pound you earn allows you to buy a lot less than it used to. A £100,000 salary today would only be equivalent to about £81,000 just four years ago. Read more of the story here 👇 https://www.cityam.com/how-much-tax-do-you-pay-above-100k-britains-highest-earners-in-numbers/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam