Is the UK's 60% "stealth" tax rate for people earning £100-£125k the highest tax in the dev. world

polymaff

Andy_L wrote: »

aren't affluent & rich synonyms

Not really, in a language as rich as is English.

In terms of wealth, affluent implies "spending". Rich doesn't.

N.B. You'd never write "as affluent as is English". I rest my case

Pennywise

russashmore wrote: »

Is it possible to pay more in to an AVC to lower your taxable income to near or below the 100K mark so your Personal Allowance is protected. Basically you invest the money you would pay in tax into your pension?

Yes, but you have to watch the annual pension contribution limits and the lifetime pension allowances, both of which have been reduced recently. It's why the likes of GPs and dentists have to reduce their working hours to reduce their pay below £100k - older ones already have large superannuation "pots" so can't add to their pensions as they'd then suffer a penal tax on breaching the lifetime limit.

csgohan4

Pennywise wrote: »

Yes, but you have to watch the annual pension contribution limits and the lifetime pension allowances, both of which have been reduced recently. It's why the likes of GPs and dentists have to reduce their working hours to reduce their pay below £100k - older ones already have large superannuation "pots" so can't add to their pensions as they'd then suffer a penal tax on breaching the lifetime limit.

Pretty counter productive from the Government's point of view, they want more skilled health care workers but also taking with the other hand.

Rightly so, people are reducing for tax purposes, why would people want to work for effectively 60% tax on extra work