Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

Are You Losing Thousands to the 60% Tax Trap? Here’s How to Avoid It!

15 Feb 2025 · 1 min

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1:22

Short promotional/educational YouTube video by Ndubuisi 'Andy' Egwim (also called Dr. Andy Grim) warning doctors about the UK “60% tax trap.” The speaker explains that once earnings exceed £100,000 the personal tax-free allowance is tapered away at a rate of £1 lost per £2 earned, which can raise an effective marginal tax rate up to about 60%. The video urges viewers (doctors) to download a free guide that explains how to avoid the trap by maximising pension contributions and claiming allowable tax opportunities. It also states that about 3,000 doctors have used the guide.

Chapters

Doctors, could you be losing thousands of pounds to the 60% tax trap without even knowing about it? Let me show you how to avoid this. If you're wondering what the 60% tax trap is all about, my free guide with the link below will show you exactly how to know if you're in and how to avoid it. Now you might wonder what is the 60% tax trap? I thought that the highest tax balance 45%. Let me show you. If you start to earn above £100,000, you start losing what we call the tax free allowance. So for every extra £2 you earn above 100,000, you lose £1 of your tax free allowance until you get to the point where you totally have no tax free allowance, bringing you up to an effective tax rate of 60%. And this explains why a lot of doctors work extra hard at getting extra income, but at the end of the day the take home pay doesn't quite match the effort. And Dr. Andy Grim, father of money wise doctor already 3,000 doctors have used my guide to avoid the 60% tax trap. Download my guide with the link below and learn how to avoid the 60% tax trap. This guide will show you how to maximize your pension to be more tax efficient and find financial loopholes where you are missing tax opportunities that are legally available and allowable for you to claim as a doctor. Go ahead now and download it through the link below.