The tax-free personal allowance starts to be taken away when you hit six figures, and in England you lose access to childcare subsidies
Believe it or not, there are downsides to earning more than £100,000 a year – particularly if you have small children.
“It’s the ambition of many people to reach an income of £100,000, but it does come with an unexpected sting in the tail,” says Sean McCann, a chartered financial planner at NFU Mutual.
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