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upper tax bracket

langfangcharlie · 2007-04-25 09:48:40

I have been offered a promotion that gives pay rise but i am concerned that it may put me above the upper tax limit and am concerned that the extra work involved may not be worth it if the tax man takes a chunk status basic £38827 + extras that will be about 5k a year any ideas?

Comments

jem16 Posts: 19,780 Forumite

26 April 2007 at 4:02PM

nealnomoney wrote: »

22% sorry. Typo error. There was no mention of personal allowance in in Andy L's post

Most people don't think about personal allowances and taxable income levels. They just think of their gross salary and how they will be taxed. It is therefore correct to say that higher rate tax starts at £38,925 as that is what you will need to earn before you pay higher rate tax.(so long as you are under 65)

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