40% tax thresholdModerators: Reef, Denis F, Mike-C By posting content to TruckNet, you're agreeing to our terms of use and confirm that you have read our Privacy Policy, and our Cookie Use Policy. You acknowledge that any personal data you post on TruckNet may be accessed by other members of TruckNet and visitors to the forum
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40% tax thresholdThe 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.
Re: 40% tax thresholdYou have not added your personal allowance of £12,570. 40% is payable on all earnings above £50,270
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Re: 40% tax threshold
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. Conor.
Agency whore.
Re: 40% tax thresholdAh yeah forgot about that
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Re: 40% tax threshold
Fake news, lol. Edit: Oh, it was on Facebook - it must be true, then.
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