FIRE starts today

Including Financial Independence and Retiring Early (FIRE)
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JohnB
Lemon Quarter
Posts: 2339
Joined: January 15th, 2017, 9:20 am

Re: FIRE starts today

Post by JohnB »

The NHS problem is very complicated, but revolves round allowance tapering. In the worst case when a doctor takes on a set of shifts that boosts their income from 110000 to 111000 (and total package above £150k), the extra £1000 is taxed at 45%, loses £500 of personal allowance and £500 of pension allowance. In certain circumstances this means they are paying to work.

https://www.royallondon.com/siteassets/ ... -final.pdf explains all
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