An individual earns £48,000 in a year. The tax-free personal allowance is £12,000, and any income earned above this threshold is taxed at a single marginal rate of 30%.
What is the average tax rate paid by this individual?
7.50%7.50\%7.50%
22.50%22.50\%22.50%
30.00%30.00\%30.00%
40.00%40.00\%40.00%
