TruckNet UK - Professional Drivers Forum

Skip to content

  Advanced search
Contact Us
  • TruckNet UK Home
  • Board index ‹ UK PROFESSIONAL DRIVERS FORUMS ‹ THE UK PROFESSIONAL DRIVERS FORUM (INTERACTIVE)
  • Change font size
  • FAQ
  • Chat [1]
  • Gallery
  • Register
  • Login

40% tax threshold

The UK Professional Drivers Discussion forum

sponsored by
Image

Moderators: Reef, Denis F, Mike-C

Forum rules
Forum rules and sanction system updated 15/2/2009-click here to read before posting

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

Post a reply
5 posts • Page 1 of 1

40% tax threshold

Postby toonsy » Tue Feb 23, 2021 4:55 am

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.
toonsy
SENIOR MEMBER
 
Posts: 3163
Joined: Thu Jan 13, 2011 12:07 pm
Location: Rugby, Warwickshire
Top

Re: 40% tax threshold

Postby stuwozere1 » Tue Feb 23, 2021 5:47 am

You have not added your personal allowance of £12,570. 40% is payable on all earnings above £50,270

Sent from my ONEPLUS A5000 using Tapatalk
stuwozere1
SENIOR MEMBER
 
Posts: 550
Joined: Mon May 14, 2018 7:36 pm
Top

Re: 40% tax threshold

Postby Conor » Tue Feb 23, 2021 6:39 am

toonsy wrote: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.
Conor.

Agency whore.
Conor
SENIOR MEMBER
 
Posts: 9481
Joined: Sun Nov 02, 2003 3:40 am
Location: Driffield, East Yorks
Top

Re: 40% tax threshold

Postby toonsy » Tue Feb 23, 2021 3:38 pm

Ah yeah forgot about that :lol: :oops:
toonsy
SENIOR MEMBER
 
Posts: 3163
Joined: Thu Jan 13, 2011 12:07 pm
Location: Rugby, Warwickshire
Top

Re: 40% tax threshold

Postby ETS » Tue Feb 23, 2021 4:59 pm

toonsy wrote: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.
ETS
SENIOR MEMBER
 
Posts: 1150
Joined: Mon Apr 16, 2018 9:06 pm
Top


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

Post a reply
5 posts • Page 1 of 1

Return to THE UK PROFESSIONAL DRIVERS FORUM (INTERACTIVE)

Who is online

Users browsing this forum: 109LWB, Andrewsfoxes, ATJT, Carryfast, gerard, Google [Bot], jockbristol, M1ck, Mazzer2, stargazer148, switchlogic and 99 guests

Advertisers





  • Board index
  • The team • Delete all board cookies • All times are UTC [ DST ]
  • TruckNet UK Home
  •  | 
  • About Us
  •  | 
  • Advertise
  •  | 
  • Contact Us
  •  | 
  • Press Center
  •  | 
  • Terms of Use
  •  | 
  • Privacy Policy
  •  | 
  • Cookie Use Policy
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group | TruckNet UK, DVV Media International Ltd.
Note to Media.. copying or use of quotes from any part of this bulletin Board is only permitted with the members permission and credit given to TruckNet UK