My employer has made me go inside IR35 bumped up my rate so my take home pay is the same as it was under Limited company and currently with an Umbrella.
I've decided to put £200 per week in Pension Sipp however I've calculated that it'd take 7-8 months that my salary will hit £50k
As a newbie will I be put on higher rate tax after the 8th month to 40%? the pension sipp at 8 months would be around £6200
Also what is the best method to avoid being hit the higher rate tax would it require more of a salary sacrifice or are there any other methods?
I've decided to put £200 per week in Pension Sipp however I've calculated that it'd take 7-8 months that my salary will hit £50k
As a newbie will I be put on higher rate tax after the 8th month to 40%? the pension sipp at 8 months would be around £6200
Also what is the best method to avoid being hit the higher rate tax would it require more of a salary sacrifice or are there any other methods?
Comment