@[email protected] to World [email protected]English • 1 year agoRishi Sunak considers tax cut for top earners after byelection defeatswww.theguardian.commessage-square35fedilinkarrow-up1156cross-posted to: [email protected]
arrow-up1150external-linkRishi Sunak considers tax cut for top earners after byelection defeatswww.theguardian.com@[email protected] to World [email protected]English • 1 year agomessage-square35fedilinkcross-posted to: [email protected]
minus-square@[email protected]linkfedilinkEnglish1•1 year agoDepends how you look at it. You lose £1 of PA for every £2 earned over £100k, which is an effective 50% tax rate. Plus it adds the irritation of having to file a tax return even though you’re on PAYE
minus-squarelennierlinkfedilink2•1 year agoYou also lose £2k worth of tax free childcare instantly as soon as you earn £100k, a rare instance of it actually being possible to earn less money by getting a payrise
minus-square@[email protected]linkfedilinkEnglish2•1 year agoIt’s worth fiddling with your pension contributions to avoid that. Also I’m not sure how the new childcare policy factors into it. I really need to look into it.
minus-square@[email protected]linkfedilinkEnglish1•1 year agoYeah it’s not quite as simple as I put in my comment
Depends how you look at it. You lose £1 of PA for every £2 earned over £100k, which is an effective 50% tax rate.
Plus it adds the irritation of having to file a tax return even though you’re on PAYE
You also lose £2k worth of tax free childcare instantly as soon as you earn £100k, a rare instance of it actually being possible to earn less money by getting a payrise
It’s worth fiddling with your pension contributions to avoid that.
Also I’m not sure how the new childcare policy factors into it. I really need to look into it.
Yeah it’s not quite as simple as I put in my comment