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1 year agoThis is why governments need to get involved legislationing profits from AI work. Shareholders can’t be the beneficiary of lower costs from AI when it means workers lose their jobs. There needs to be an AI specific tax, to support people losing their livelihoods.
In the UK tax is deducted ‘at source’ by your employer for anybody employed. You have a personal tax code, which tells your employer how much tax to deduct and pay on you behalf.
You then have a number of allowances you can claim against if you are eligible, to reduce your tax, which issues you an updated tax code.