I am about to apply for an internal promotion at my company that I have basically been told by my manager I shall get.
I am sure a payrise will be on the cards, and this drew me to wonder about tax bands.
Now the High Tax band (40%) comes in at £33,300 however we are allowed £5,225 before tax, so does this mean that I would not be taxed 40% of my salary until I reached £38,525, or £33,300?
Thanks to all who can help (ps - thinking about it, it might be better coming from someone who is on a similar salary so I know it is actual fact as websites seem to differ in opinions! ;-))