What salary if more than 48k ? Is worth it ?

[wherestheegg]

I'm a creative freelancer atm, but I suspect I maybe offered to do a slightly different perm job. But obviously if I ask for a salary over into 50k, I'll loose child benefit and then there's higher tax isn't there? So things have to balance out. The last employed full time job I had was for 48k quite a few years back and I charge about £300 a day now, but I'm not full time, I WFH and I'm not employed.

I've tried looking on the salary calculator, but I can't work it out, so what salary do you have to take home more ? Does this make any sense ?

I'm in London btw.

What's your freelance hourly rate?

Its a sliding scale not a cliff face, so you don't lose all of it. (10% for every thousand between 50k and 60k) Higher tax is just paid on the bit above threshold too.

What can’t you work out with the salary calculator?

It doesn’t allow for CB, but going over £50K doesn’t make you worse off re CB because you lose it pound for pound. As @Aroundtheworldin80moves says, there’s no cliff edge.

As for higher rate tax - it only applies to the earnings over £50K, so it’s not going to leave you worse off (I’m assuming still well under £100K - I forget the exact amount for next tax scenario but it’s above that).

So you can do the calculator easily enough. You just need to think if pension payments change or benefits.

Makes no difference to tax legislation!

I don't do hourly. If I do an hour would still I charge a day rate of £300.

“I've tried looking on the salary calculator, but I can't work it out, so what salary do you have to take home more ? Does this make any sense ?”

The bit in bold makes so sense to me, unless you mistakenly think CB is a cliff edge.

Income tax is different in Scotland.

You’re very right! OP through me by saying she’s in London. If she’d said in England I’d not have been surprised at the comment!

You can do things like salary sacrifice car lease scheme or pay extra into pension that bring down a 50k+ salary to still get child benefit.

Just put anything above £50k into your pension. You’ll save 40% tax and still get child benefit.