Quizzes & Puzzles19 mins ago
Higher rate tax
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Hi, my husband has just got a new job with a much higher salary than before, and he's now going to be on higher rate tax. Could anyone tell me wether he will have to pay 40% on the whole of his wages or just the bit that goes over the threshold?
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For more on marking an answer as the "Best Answer", please visit our FAQ.A lot of people think they will be worse off being higher rate tax payers but this isn't true. As an aside, as he is going to be a higher rate tax payer why not make sure he is paying what he can into his pension to get the most out of it? This way for every �100 going in, �40 is paid by his tax and �60 by him. Worth looking into.