this post was submitted on 21 Oct 2023
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[–] killeronthecorner 1 points 1 year ago (2 children)

Depends how you look at it. You lose £1 of PA for every £2 earned over £100k, which is an effective 50% tax rate.

Plus it adds the irritation of having to file a tax return even though you're on PAYE

[–] [email protected] 2 points 1 year ago (1 children)

You also lose £2k worth of tax free childcare instantly as soon as you earn £100k, a rare instance of it actually being possible to earn less money by getting a payrise

[–] killeronthecorner 2 points 1 year ago

It's worth fiddling with your pension contributions to avoid that.

Also I'm not sure how the new childcare policy factors into it. I really need to look into it.

[–] [email protected] 1 points 1 year ago

Yeah it's not quite as simple as I put in my comment