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High Earners

Navigating tax matters can be complex and stressful, especially for high earners facing the 40% tax rate band or contemplating the 60% tax bracket. Our accounting services are designed to manage your tax affairs with precision and expertise.

From only £145+VAT, our fully qualified professionals can handle every detail, you can relax knowing that your high earner tax return is in expert hands.

Qualified Professionals to work on your taxes
Personalised Service
Complete preparation and submission of your Self-Assessment tax return

How It Works

Answer some simple questions

Get paired with an expert

We prepare and file your tax return

Frequently Asked Questions About High Income

Explore answers to common questions about handling high income, providing clarity on your specific tax obligations.

Do I need to do a tax return if I earn over £100k?

Yes, if you earn over £100,000, you’re required to complete a Self Assessment tax return. This is because your income level surpasses the threshold that mandates HMRC to assess your tax liabilities in detail. Filing a tax return allows you to report your earnings accurately and ensure you pay the correct amount of tax. It also helps in claiming any allowable deductions or tax reliefs you might be eligible for.

Why do high earners have to do a tax return?

High earners are required to complete a tax return because their income often involves complexities that standard PAYE systems can’t handle. This includes additional income sources, investments or significant deductions. A Self Assessment tax return provides a comprehensive view of your financial situation, ensuring that all income is reported. It helps to accurately calculate and pay the correct amount of tax due.

How much can I earn before I pay 40% tax?

For the 2024/25 tax year, you start paying 40% tax on income over £50,270. This higher rate applies to earnings above this threshold, while income below it is taxed at the basic rate of 20%. It’s important to plan and manage your income strategically to lessen the impact of higher tax rates.

What is the 40% tax bracket in 2024?

In 2024, the 40% tax bracket applies to income that exceeds £50,270. This means any income above this threshold will be taxed at a higher rate of 40%, compared to the basic rate of 20% for earnings below this limit. Understanding this bracket is important for high earners, as it affects tax planning strategies and financial decisions.

What is the 60% tax trap?

The 60% tax trap occurs when high earners lose 60p of every additional pound they earn due to a combination of the withdrawal of personal allowances and higher rate taxes. This typically affects those with income between £100,000 and £125,140. As your income exceeds £100,000, your personal allowance gradually decreases, resulting in a higher effective tax rate on additional earnings. This trap can significantly impact your net income and requires careful planning to mitigate.

Why choose us?

Your trusted tax partners

Our dedicated crew is here to give you dependable support and expert guidance. We’ll manage your tax affairs with precision, making sure you get the best value, and peace of mind every step of the way.

Always here to help

We’re always ready to tackle any questions you have. Our specialised insights and up-to-date service are tailored just for you. You can count on us for clear guidance that boosts your financial benefits, and keeps everything running like clockwork.

Personalised support

We tailor our services to suit your unique financial situation, providing clear, actionable guidance. Our personalised approach ensures you get the support you need to navigate your tax return with ease.

Stress-free process

Our team keeps taxes simple! Let us handle all the details, ensuring everything’s accurate and easy. With us in charge, you can sit back and relax, knowing your finances are in good hands.

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