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40 percent tax

1 reply

Rebecca9210 · 25/07/2023 14:03

Hiya.

I have had a payrise at work so in the middle of the tax rate I will go over 50k. Will I be taxed 40 percent as soon as I go over 50k or will it be the average over the tax year.

Thank in advance

OP posts:
flipent · 25/07/2023 14:04

You will be taxed on the assumption that you will continue to be payed at the higher rate.
You will only be taxed 40% on the part of your salary which is over the threshold.

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