We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Why did I not pay Additional Rate Tax
Options

mymseuser
Posts: 1 Newbie
in Cutting tax
Good morning,
Not wanting to complain but trying to pre-empty pension contributions for next year so I dont pay additional tax.
However looking at this years tax return, the amount of money used against Higher Rate was £86835, I would have thought the maximum amount would have been (125140-50270 bands) £74870, any additional income would have been at additional rate (~£12k).
Figures above are not my total income where tax was due which was ~£147k and my basic rate was increased to ~£60k due to pension payments.
Just trying to work out how much pension I need to contribute next year if my salary goes up by X so not to pay additional rate, just thought I would have done already
Not wanting to complain but trying to pre-empty pension contributions for next year so I dont pay additional tax.
However looking at this years tax return, the amount of money used against Higher Rate was £86835, I would have thought the maximum amount would have been (125140-50270 bands) £74870, any additional income would have been at additional rate (~£12k).
Figures above are not my total income where tax was due which was ~£147k and my basic rate was increased to ~£60k due to pension payments.
Just trying to work out how much pension I need to contribute next year if my salary goes up by X so not to pay additional rate, just thought I would have done already
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards