Hi,
By the time it comes to April I will have earned £101,500 in the tax year. My bonus is due and they are paying out at £17,160 so I assume due to the marginal rate of tax being 60% I will only earn 40% of my bonus, minus any NI at 2% so will take home 38% of my bonus being £6,521.
If what I say above is correct about my take home bonus, would it be beneficial (or would I be able) to put some away in my pension rather than pay it in tax at 60% and still be able to take home the £6.521?
And if so, how do I calculate it?
Thanks for any advice.
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