If you’ve earned more than £100,000 in the last tax year then you’ll need to prepare and submit a self assessment tax return.High earners must include income from all sources, such as employment income, employment benefits, dividends from share and interest on savings.
Tax Strategies for High Income Earners
High earners can make use of several strategies that reduce tax liability. At Simpltax, as part of our tax planning we’ll make sure to include any private pension contributions you’ve made. We’ll include any charitable donations with gift aid and also any employment expenses.
All of these, and quite a few others, can significantly reduce your tax liability.