I earn £40k +5K from a buy to let.
So £45K in total
If I pay 15k into my pension, would I now be due tax on £30k?
Dropping me out of the 40% tax rate?
In addition/
I have a company car which costs me £384 in tax monthly.(BIK of around 11k)
My company car tax bill on 30K should then be £192 in tax monthly?
Would this be the case?
I do not have much in the way of outgoings so would rather save Tax at the moment than have more cash in my pocket.
I am 55 soon, so can start to pull out cash from my pension later this year.
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