£1 pay rise will cost some Britons £14,000 more as ‘brutal earnings threshold’ breached | Personal Finance | Finance

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With income tax, National Insurance, student loan repayments and the personal allowance taper, a simple £1 pay rise taking a person over £100,000 may result in an effective tax rate of 1,395,221 percent. 

A personal allowance goes down by £1 for every £2 an adjusted net income is above £100,000. 

It means an allowance is zero if one’s income is £125,140 or above.

Laura Suter, head of personal finance at AJ Bell, said: “While it’s a decent salary, £100,000 is rapidly becoming the most brutal earnings threshold to cross, particularly for parents.

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