As a high net worth or high earning individual in the top income tax bracket you will find yourself faced with a sizeable annual tax bill. High income or good bank balance equals higher taxes. It’s simply a fact of life. Luckily, the UK government understands that under the right circumstances, it makes sense to lessen the tax burden of wealthier residents if that money instead helps stimulate the economy or is offset against future tax returns or the need for state support. The result is a range of government-supported investment structures that the high net worth and high earners can take advantage of to offset against annual tax commitments.
Topics covered in this Guide
- ISA Types
- Private and Workplace Pensions
- Government income tax-back top-ups
- EIS/SEIS Investments
- Charitable Contributions