Hi
I currently earn £60,000 a year and pay 40 % Tax on part of my earnings, I was told that come 6th April 2019 the new TAX Fresshold for paying 40% tax will be only if you earn over £45,000 a year, anything less will be 20% Tax.
I currently contribute to my works pension and I understand that if I pay in £15,001 a year Salary Sacrifice into my works pension then I will not have to pay the 40% tax on what I earn because this will be £44,999 a year that I will be paying tax on at 20% is that correct??. Thank you.
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