HMRC have determined that you must complete a self assessment tax return if any of the following circumstances apply to your personal, financial circumstances: 1. You're a company director, minister, Lloyd's name or member. Your annual income is £100,000 or more. You have income from savings, investment or property. If you are an employee or a pensioner and already Continue Reading
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Pension contributions and high income earners
Our previous government enacted legislation that removed the personal allowance for certain high income earners. The present government has made no change to this process. Basically, for every £2 your income exceeds £100,000, your personal allowance is reduced by £1. Take, for example, the case of Joe Smith who has income for 2014-15 of £100,000 and a personal tax allowance Continue Reading
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