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Tax Planning Strategies for High Income Earners
Reduce the impact of additional tax burdens
In this guide:
- How to reduce the tax burden on your salary? - This guide contains a multitude of key financial planning tips to help you make your personal tax situation as efficient as possible.
- Maximising available allowances – Careful consideration of the split of assets between spouses can have a significant beneficial impact on a couple’s income tax burden.
- Pension planning – Pensions continue to offer significant tax benefits that should not be ignored.
Please note that the Financial Conduct Authority (FCA) does not regulate cash flow planning, estate planning, tax or trust advice.
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From this guide:
Fiscal Drag is a significant challenge facing taxpayers currently. In the 2025 Budget, the decision was taken to extend the freeze of the personal allowance, basic rate and higher rate income tax thresholds until April 2031.
This will push unprecedented numbers of taxpayers into higher income tax thresholds over the coming years, making tax planning more important than ever.
If you are a taxpayer living in England or Wales, you will pay 40% income tax on income above £50,270 per annum, but below £125,140 (assuming a full personal allowance is available).
Taxpayers in England and Wales with a total income above £125,140 will pay the additional rate of 45% on income above £125,140. As the personal allowance is progressively withdrawn on any income over £100,000, there is also a marginal effective rate of c.60% that applies to any income between £100,000 and £125,140 regardless of where you reside in the UK.
Scottish taxpayers will continue to be subject to income tax at six different rates, ranging from 19% (Starter Rate) to 48% (Top Rate) for any income in excess of £125,140.
Download the full guide to read more.
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Meet our expert team
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Steffan Alemanno
Senior Financial Adviser - Chartered Financial Planner, APFS
Helping clients navigate their financial goals, Steffan is a Chartered Financial Planner who supports a wide range of planning needs and prepares them for both today and the future.
Ellie Jarvis
Senior Financial Adviser - Chartered Financial Planner, APFS
Based in Leeds, Ellie is a Chartered Financial Planner guiding clients nationwide through retirement, tax, investment and broader financial planning decisions.
Alex Hatfield
Partner - Chartered Financial Planner, FPFS, MCSI
Alex, Partner and Chartered Financial Planner, helps clients plan for every stage of life, using cash-flow modelling to give clarity and confidence in their financial future.