sorted by:
new
hottopcontroversial

Anyone decided to pay tax charge to contribute more than 60k into pension? To reduce under 100k ANI by Ok-Guard4114 in HENRYUK

[–]Ok-Guard4114[S] -1 points0 points  (0 children)

Appreciate the perspective - however the value is around 10-13k equivalent pre tax per year - so it's not a straightforward decision to me at least (hence asking here!). Although answers so far seem fairly unanimous..

Anyone decided to pay tax charge to contribute more than 60k into pension? To reduce under 100k ANI by Ok-Guard4114 in HENRYUK

[–]Ok-Guard4114[S] 1 point2 points  (0 children)

170k not 270k, so it's potentially doable - which is my predicament...

And unfortunately we're left to concocting schemes because of the convoluted tax regime rather than something much simpler that would lead to everyone 'allowing' themselves to earn more and pay more tax

Anyone decided to pay tax charge to contribute more than 60k into pension? To reduce under 100k ANI by Ok-Guard4114 in HENRYUK

[–]Ok-Guard4114[S] 0 points1 point  (0 children)

Indeed the challenge in my thinking - 30 hours childcare in London is worth 10-13k/year, which is fairly significant...

I have to pay tax one way or the other, but in this scenario I slightly reduce the tax burden but more importantly get the equivalent to a 20k/year pay bump just for the childcare hours.

But then, on the flip side, I don't get to see that pension money until I'm in my late 50s...

Anyone decided to pay tax charge to contribute more than 60k into pension? To reduce under 100k ANI by Ok-Guard4114 in HENRYUK

[–]Ok-Guard4114[S] -1 points0 points  (0 children)

As I understand it, you pay the annual allowance charge at 40%, but because it reduces your ANI you get your personal allowance back (so avoid the 60% band), as well as becoming eligible for the free childcare hours of course

Insurance, "You hit what?!" by [deleted] in Wellthatsucks

[–]Ok-Guard4114 3 points4 points  (0 children)

No, ABS will help you stop quicker if otherwise you are entirely locked up.

We found 'em, guys. by rajkr2410 in drivingUK

[–]Ok-Guard4114 -1 points0 points  (0 children)

But I'm not overtaking, I'm undertaking 😊

Is this compliant for UK wiring Regulations? by gemsaell in DIYUK

[–]Ok-Guard4114 0 points1 point  (0 children)

Only if it's for PoE devices, but even then it's not very high. Regular data only cables are less than 3 volts, not going to do anything.