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submitted 1 year ago by tintory@lemm.ee to c/world@lemmy.world
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[-] killeronthecorner@lemmy.world 1 points 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 points 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.world 2 points 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.

[-] Person264@lemmings.world 1 points 1 year ago

Yeah it's not quite as simple as I put in my comment

this post was submitted on 21 Oct 2023
158 points (96.5% liked)

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