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If your income exceeds £100,000 you will already be paying tax at 40% – this begins when taxable income exceeds £31,785 – but your personal allowances are also clawed back by £1 for every £2 by which your adjusted net income exceeds £100,000.
Tuesday, 24 November 2015 11:31

2015/16 Year End Strategies

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Tax planning is a year-round activity, but it takes on even more importance as the year end draws nearer. Taking appropriate action ahead of 5 April will help to ensure that you are able to make the most of the tax-saving opportunities available to you and your business.