Re: Atrocious
You forgot the gap between 100k and 125k, where for each £2 above 100k you earn you lose £1 off your tax free allowance.
Add in NI and that means my bonus this year is being taxed at 63.5%
Or would be. Instead I'm going to forgo my bonus and open a new pension fund instead, as that way in a few years I can have almost all of that money, instead of a pitiful 36.5% of it.
No, tax isn't half my income. It's well over half of any additional income I make, whether through working hard at my current job or from additional sources - e.g. book sales.
Biting the hand that feeds IT
