Tax planning tips to minimise the high income child benefit charge

The substantial increase in the higher rate threshold to £50,000 is good news for many taxpayers. However, that same figure is the point at which child benefit starts being clawed back and there has been no increase in that threshold since the High Income Child...

Don’t lose your Personal Allowance!

For every £2 that your adjusted net income exceeds £100,000, the £11,850 personal allowance is reduced by £1. Pension contributions and Gift Aid can help to reduce adjusted net income and save tax at an effective rate of 60%. The restriction applies between £100,000...