With just a few weeks left before the end of the 2014/15 tax year on 5 April 2015 here’s a few tips to keep more money in your pocket:
Keep out of the high tax danger zones
£50,000 – £60,000 – If you get child benefit then you get it clawed back in this zone. This means paying 40% tax plus the Higher Income Child Benefit Charge. A tax rate of over 60%
£100,000 – £120,000 – you’ll lose your personal allowance in this band. A tax rate of 60%
Over £150,000 – you’ll pay tax at 45%
Here’s a few things you can do…
Make sure your savings and investments are tax efficient
Here’s what you can do…
Max out your pension
Still one of the best tax planning methods…
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