Information on UK Minimum wage and taxes.

Minimum wage in the UK varies depending on workers' working hours and age. Minimum wages valid as of October 1, 2021 are as follows: - £

8.91 per hour for workers aged 23 and over - £

8.36 per hour for workers aged 21-22 - £

6.56 per hour for workers aged 18-20 - £

4.62 per hour for workers aged 16-17 - £

4.30 per hour for long-term trainees These rates apply to full-time employees and may vary depending on working hours. Additionally, in some industries (such as hotel management or restaurant operations) tips may also be considered additional income. The tax system has a complex structure in the United Kingdom. Different tax brackets are applied depending on workers' income and working status. The tax brackets valid for the 2021/2022 fiscal year are as follows: - Personal Income Tax: The tax rate is zero for those with annual income below £12,570. Tax applies at 20% on income between £12,571-£50,270, 40% on income between £50,271-£150,000 and 45% on income over £150,001. - National Insurance Contributions: It is a social security contribution shared between employees and employers. It is applied at different rates depending on the annual gross earnings of employees for the 2021/2022 financial year. - Value Added Tax (VAT): It is a consumption tax applied to many goods and services. The standard rate is 20%, but lower rates (5% or 0%) may apply for some goods and services. This information provides an overview, but the tax system and minimum wage policies may change from time to time. Therefore, it is important to obtain up-to-date information from official tax and labor sources.