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Posted Fri, 13 Sep 2024 08:49:04 GMT by Stuart
I have a question regarding the 60% tax trap and whether some of my earnings may fall into this boundary. I'm not self employed, work for a large company and I'm paid via PAYE. If I earn 110000, salary sacrifice 10000 into my pension, salary sacrifice 700 buying 2 additional days vacation, receive 1500 of medical benefit-in-kind and 500 interest on savings (non-ISA) will I be pushed into the 100000 to 125140 tax bracket? I believe I will because 110000-10000-700+1500=100800. I assume I won't need to add the 500 savings interest as it's below the 500 threshold for 40% tax payers. Thanks
Posted Mon, 23 Sep 2024 09:08:10 GMT by HMRC Admin 21 Response
Hi,
Unfortunately, it is not possible to review personal matters in this forum.  
For individualised assistance please contact our self assessment helpline or contact our webchat Self Assessment: general enquiries.
Thank you.

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