The threshold to start paying 40% tax on income has been lowered from £50,000 currently to £37,701 from April.
Only mentioning it because yesterday was the first time I was made aware of it so thought others might be I the same boat.
Potential to drag a lot of people into the higher tax bracket.
You have not added your personal allowance of £12,570. 40% is payable on all earnings above £50,270
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toonsy:
The threshold to start paying 40% tax on income has been lowered from £50,000 currently to £37,701 from April.Only mentioning it because yesterday was the first time I was made aware of it so thought others might be I the same boat.
Potential to drag a lot of people into the higher tax bracket.
I saw that posted on Facebook yesterday, it was posted by someone who clearly didn’t understand how tax brackets work. The 40% threshold starts at £37,701 above your personal allowance so as stuwozere1 posted, at £50270.
Ah yeah forgot about that 
toonsy:
The threshold to start paying 40% tax on income has been lowered from £50,000 currently to £37,701 from April.Only mentioning it because yesterday was the first time I was made aware of it so thought others might be I the same boat.
Potential to drag a lot of people into the higher tax bracket.
Fake news, lol.
Edit: Oh, it was on Facebook - it must be true, then.