I currently work 40 hours a week but i'm thinking of dropping down to 30 hours a week, will this drop me into a different tax band as i'll be working less hours and earning less ?
I currently work 40 hours a week but i'm thinking of dropping down to 30 hours a week, will this drop me into a different tax band as i'll be working less hours and earning less ?
Depends how much you earn right now and how much you'll earn on a 30 hour week really...
I droped from 40 hours to 28, then to 20. It just meant that instead of some of my income being taxed at 40% it was all taxed at the lower rate ( 22% at the time I recall). You may get extra tax credits if you have kids.
Edited by Brown and Boris on Sunday 8th February 15:31