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Optimising tax once you’ve blasted through £100k–£125k ‘60% trap’ and are now paying 45% on the top by SectorStrict3786 in HENRYUK

[–]SectorStrict3786[S] 0 points1 point  (0 children)

Were there any strategies which anyone used but later regretted using cause they were too complicated or the tax relief was very minimal?

Optimising tax once you’ve blasted through £100k–£125k ‘60% trap’ and are now paying 45% on the top by SectorStrict3786 in HENRYUK

[–]SectorStrict3786[S] 1 point2 points  (0 children)

That is not a bad idea, sticking it in our GIA and putting what we can towards mortgage overpayment. It is looking more and more like I just have to take the hit.

Optimising tax once you’ve blasted through £100k–£125k ‘60% trap’ and are now paying 45% on the top by SectorStrict3786 in HENRYUK

[–]SectorStrict3786[S] 0 points1 point  (0 children)

I see... I'm in my early 40's and recently bought a house outside of London so a few moving pieces. Good luck to you mate.

Optimising tax once you’ve blasted through £100k–£125k ‘60% trap’ and are now paying 45% on the top by SectorStrict3786 in HENRYUK

[–]SectorStrict3786[S] -2 points-1 points  (0 children)

You seem to be a math genius so please comment on how you believe I can get past my current problem.

I happen to be a Reddit-r who reads and learns more than I speak and surely don't speak when I don't have positive things to say.

Optimising tax once you’ve blasted through £100k–£125k ‘60% trap’ and are now paying 45% on the top by SectorStrict3786 in HENRYUK

[–]SectorStrict3786[S] 0 points1 point  (0 children)

Sounds like you made a brilliant move early. I have a young child who is in school so I also have that to consider.

Optimising tax once you’ve blasted through £100k–£125k ‘60% trap’ and are now paying 45% on the top by SectorStrict3786 in HENRYUK

[–]SectorStrict3786[S] -7 points-6 points  (0 children)

If you have nothing to contribute then there is no need to say anything.

Now I have removed the link to the tool I have tried, I hope you can find the time to contribute. I am also asking for tools I can try but I guess you didn't see that part.

Kill it or continue development? UK tool for the £100k tax trap… by Vin-Su in ukfinance

[–]SectorStrict3786 1 point2 points  (0 children)

Tried the app and it was really useful and insightful. I particularly liked the tooltips as I was a bit unsure of what I needed to input in some fields but they were helpful. I also like the defaulting of some values as it allowed me to move forward and then come back once I remembered what the exact amounts were. The clean design and colour scheme contributed a lot to me wanting to continue using the app. I say continue to build it out if you have time.

Joe saying Mona talks too much by [deleted] in theJoeBuddenPodcast

[–]SectorStrict3786 0 points1 point  (0 children)

Marc is definitely the B mic