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higher rate of tax threshold
alexsix21
Posts: 6 Forumite
in Cutting tax
could anyone advise me please - which way does the taxman look at things if you have a wage and a 2nd pension? Is it
a)
gross pay minus pension contribution eg £26000
plus 2nd pension £10000
minus tax allowance £8105
= £27895 and taxed at 20%
or
b) gross pay minus pension contribution £26000
plus 2nd pension £10000
total £36000
40% tax payable after £34371
thankyou.
a)
gross pay minus pension contribution eg £26000
plus 2nd pension £10000
minus tax allowance £8105
= £27895 and taxed at 20%
or
b) gross pay minus pension contribution £26000
plus 2nd pension £10000
total £36000
40% tax payable after £34371
thankyou.
0
Comments
-
as in a) all tax at 20%0
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