Hi, Is anyone around here good with tax etc? I'm just trying to understand. My DH is about to have a payrise which will take his salary from 48.5 k to 51k. By my calculations that will probably leave us a bit worse off as he will have to pay tax, pension, NI etc and it will mean we will stop receiving child benefit.
However, am I right in thinking that if your pre tax deductions (pension and childcare vouchers) bring the taxable portion of your pay down to below £50k then this is ok?
I find this all a bit confusing tbh but don't want to get on the wrong side of HMRC!
Thank you to anyone who can explain things to be in idiot prof language!