Robert Wilson
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RE: Additional AVC and Personal Tax
Bhawin, I would say yes, as that's exactly what I do. I have a salary of around £65k and I put around 18% of my wage in a "Salary Sacrifice Pension" This reduces my "Gross Taxable Income" to below the HR Threshold and hence I do not pay the HR rate on anything. Rob. -
Tax Thresholds - fixed or flexible
Hi everyone, hope someone can clarify an issue which I have about Tax Thresholds. In particular at which point the HR Threshold starts for someone with a Marriage Allowance Transfer from a Partner. According to the HMRC Website my 20% tax liability is on " Income after Allowances" up to £37,700. For previous years I have been granted Marriage Allowance, so which of the following is true? What happens to my HR threshold? does it remain at £50,270? Or does it increase slightly to £51,530? ( £37,700 + £13,830)