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Where Taxpayers and Advisers Meet

Trying to calculate if over the 45k tax threshold

davezac
Posts:2
Joined:Thu Jul 27, 2017 6:51 pm
Trying to calculate if over the 45k tax threshold

Postby davezac » Thu Jul 27, 2017 7:14 pm

I wonder if someone would be so kind as to help in just a few words.
I was fortunate to be able to take early retirement last september. so i have a pension income of £22k
I now find myself working for another organisation on a salary of £31k. I dont pay NI on the pension income, and it is this income that benefits from the 11k tax code - so i pay tax on the other 11k.

My question is this. Am i over the 45k tax threshold for upper earners? if so, what is the least i need to invest in my new employmers pension scheme in order to reduce tax payments.

Any help greatly appreciated
David

AmanSood
Posts:216
Joined:Mon Jan 09, 2017 4:12 pm

Re: Trying to calculate if over the 45k tax threshold

Postby AmanSood » Fri Jul 28, 2017 4:47 pm

your total annual taxable income (including pension income is £53k so you are over £45k. to get under this under £45k you would have to put in 8k into your pension.
Advising on UK employment, expatriate and personal taxes
aman.sood@e-taxconsulting.com.
+44 (0) 207 846 0155

davezac
Posts:2
Joined:Thu Jul 27, 2017 6:51 pm

Re: Trying to calculate if over the 45k tax threshold

Postby davezac » Sun Jul 30, 2017 10:13 pm

Thank you for your help Aman.


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