60% Tax rate question

The_Governor

I'm in the fortunate position to earn a very good salary, however, I'm locked in the effective 60% threshold between £100k and £125,140. I've just had a pay increase that will take my pay to £122,640 plus I get private healthcare at a value of circa £2500. What I'm trying to work out is how that will affect my tax code, my best guess is that my personal allowance will go to zero, but I might possibly be into a negative code (K Code?) because of the PMI benefit. 

My income is purely PAYE no other shares or anything like that, I put 10.5% into my pension to try and limit the impact of the 60% "trap"

I can't quite find anything that makes it clear what my actual take home pay will be and wondered if there were any experts on here that understood the tax regime better than I obviously do!

Dazed_and_C0nfused

If a new tax code is calculated using your figures them yes you would likely be into K (negative) code territory.  But the exact code would depend on the method used to contribute to your pension,

Net pay

Relief at source

Salary sacrifice

But a tax code is only ever provisional and for someone with adjusted net income in excess of £100k the final position is always resolved via their Self Assessment return.

You can use this calculator to check monthly tax deductions once you know your tax code.

http://payecalculator.hmrc.gov.uk/PAYE0.aspx

Grumpy_chap

Can the OP increase SS pension contributions to avoid the 60% trap altogether?

Does the OP's employer offer a SS car scheme?  If so, an EV could be a good consideration and avoid the 60% trap.

The other thing the OP could do is to make gift-aid donations.  Could be a good option if the OP can do so in a way that is supporting a cause the OP would support anyway.