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But what about your Evoque lease? Can't downsize when the kids still need a pram!
Seriously though - I think it's on taxable income, so while your pension is pre-tax it doesn't reduce your taxable income number. Ianaa.
I also assume this is why you get large salaries after a certain point. The take home on 150k vs 160k is not a lot after tax as a %.
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Have no cliff edge and you are giving £££ to mega earners.
Just do that, make the marginal rate smoothly increasing, adjust the bands until it's all revenue neutral. Scrap NI too. Couple of day's work at most
hugo7
frankenbike
@NickCJ
There’s no good solution to these cliff edges. Start tapering the support at lower income levels and you create really high marginal tax rates. Have no cliff edge and you are giving £££ to mega earners.
For anyone caught by this isn’t the simple solution to chuck anything over £100k in your pension for a few years?