Now a higher rate tax payer, anything I should know?

vanderbosch

Prism wrote: »

Thats what I did. I haven't paid any higher rate tax for around 20 years now by contributing to a pension. Even though I could pay off the mortgage now I have just renewed a 5 year fixed deal.

I'm not sure I want to pay in over £17k a year into my pension, but an extra chunk just to minimise tax and reap the benefits might be worth doing.

v.rajput

Hi, I've just realised I will be in the same situation, about the same income too.
Also child benefit will be affected, did you decide what your gonna do?...I was thinking of salary Sacrificing  5k into my pension.

vanderbosch

Well, there is not much I can besides pay into my pension.
For now, I am going to acclimatise to my salary new and then just increase my pension contributions as and when.