4 ms·
> when income reaches £100K, there is a marginal tax rate of over 60% at that income level Can't you just put that in your pension to avoid that effective 60%
by chimprich 4y ago
> when income reaches £100K, there is a marginal tax rate of over 60% at that income level
Can't you just put that in your pension to avoid that effective 60% rate?
> no point in working long hours in a responsible job helping other people advance their careers if I keep less than 40p of every pound I earn at that point
I think the way the UK calculates tax at that level is a stupid way of setting it up, but "only" taking 40% of the 100k to 125k is hardly terrible. If you're in that range, you're incredibly well paid for the UK (or pretty much anywhere in the world).
I would personally like to pay more tax if it meant decent public services instead of people dying waiting for ambulances.