Tax

Marginal income tax rate

Tax

The highest income tax rate which applies to your income.

For instance, if your income is £60,000, the amount between the personal allowance (currently £12,500) and £50,000 is taxed at the basic tax rate of 20% while anything between £50,001 and £60,000 is taxed at the higher tax rate of 40%. Your marginal tax rate is therefore 40%, and any income you were to earn above £60,000 would be taxed at this rate (until you reach £150,001 where the tax rate jumps to 45%).

We’ll never leave you high and dry

Our customer support team is rated "Excellent" and is always on hand to help you during the setup process and once you have your new pension. There are 3 ways you can contact us:
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Log in to our website and chat to us

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Email us on support@myraindrop.co.uk

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Call us on 02039517253