Tories may also reduce stamp duty in bid to win back voters and reduce pressure on PM, reports say
  • killeronthecorner@lemmy.worldEnglish
    1·
    1 year ago

    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

    • lennier@kbin.social
      2·
      1 year ago

      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

      • killeronthecorner@lemmy.worldEnglish
        2·
        1 year ago

        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.