@accountinglads
-
accountinglads started the topic What is the 40% tax threshold that is used in the UK? in the forum charitable work 13 hours, 4 minutes ago
It means that, once your earnings hit £40,000 per year, you will be taxed at the higher income tax rate in the United Kingdom. From 2024/25, the tax-free threshold for a Trust will be £50,271. Everything above £50,000 and up to £125,140 is taxed at 40%. The threshold plays a big role in planning, as it means reaching a higher income can inc…Read more