The 60 percent tax trap.

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If you earn more than £100,000, you may be paying tax at 60 per cent. You won’t find this listed on the HMRC website, but due to the withdrawal of the personal tax allowance for income over £100,000, earnings of between £100,000 and £121,200 will be taxed at an effective rate of 60 per cent for 2015/16. Not fair!!

Plan ahead with a friendly accountant or tax adviser!

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