45% overall would be far higher than 125k. You would have 20% tax up to £50k, 40% tax between £50k and £125k, and then 45% tax above £125k. So in order to be taxed 45% overall you would have to earn well over £125k, as a significant portion of your earnings would still be taxed at the lower rates. You don’t start paying the higher rate until you’re earning it, and even then you pay the lower rate for any earnings below the threshold.
The UK tax system also has a werid position between about £100k and £125k. There is a tax free allowance between 0 and around £12.5k, when you earn over £100k this starts to reduce until £125k where it is entirely removed. After £125k you start making money again, but with earnings of between £100k and £125k per year you can actually take home less.
There is specific maths that clear this up more consisely (not least because thresholds change every year) but that’s the general gist of it.
45% overall would be far higher than 125k. You would have 20% tax up to £50k, 40% tax between £50k and £125k, and then 45% tax above £125k. So in order to be taxed 45% overall you would have to earn well over £125k, as a significant portion of your earnings would still be taxed at the lower rates. You don’t start paying the higher rate until you’re earning it, and even then you pay the lower rate for any earnings below the threshold.
The UK tax system also has a werid position between about £100k and £125k. There is a tax free allowance between 0 and around £12.5k, when you earn over £100k this starts to reduce until £125k where it is entirely removed. After £125k you start making money again, but with earnings of between £100k and £125k per year you can actually take home less.
There is specific maths that clear this up more consisely (not least because thresholds change every year) but that’s the general gist of it.