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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 %.

  • If it's salary sacrifice pension, which many are, then throwing more into your pension will reduce the taxable income. I expect there will be many doing this to scrape under the 100k threshold.

  • I would imagine all the big earners will be getting nannies provided by work to compensate, or probably have them anyway, much easier than worrying about your own kids. They'll all be off to board at 13 anyway.

  • What adjusted net income is
    Adjusted net income is total taxable income before any Personal Allowances and less certain tax reliefs, for example:

    trading losses
    donations made to charities through Gift Aid - take off the ‘grossed-up’ amount
    pension contributions paid gross (before tax relief)
    pension contributions where your pension provider has already given you tax relief at the basic rate - take off the ‘grossed-up’ amount
    When your tax

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