There are certain ‘crunch points’ at income levels where it can make a material difference, depending on various circumstances, to different types of tax liabilities.
There are different effects, for example at all these levels of earnings:
- £6,205, £8,424, £11,850. £18,330, £46,350, £50,000, £100,000, £110,000, £150,000
And for different types of income:
- Dividends (£2,000),
- Interest (could be £1000 or £500),
- Self employment (£1,000),
- Rental income (£1,000),
- Rent a room (£7500)