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when does 40% start?


andydg
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personal tax code is 820 and if pay £4000 to pension

so;

£8200+£4000=£12200

so taxed at 20% from £12200 for the next £32000.

£12200+£32000=£44200

so tax at 40% on everything over £44000 to £150000.

 

Is this correct, need to earn £40200 to start paying 40% if no pension contributions?

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