If your income is in excess of £100,000 you will need to complete a tax return particularly if you have higher rate or additional rate income which has not been collected through your tax return.
Once you start earning £100,000 your personal allowance is reduced by £1 for every £2 your earn above £100,000 until it is reduced to zero.
You will pay additional rate tax on any income above £150,000
Due to the way in which the reduction in personal allowance works, you are paying a marginal rate of 60% on some of your income.
If you would like help completing your tax return or would like to discuss ways in which you can reduce this effect please give us a call on 01273 921064 or click on one of the buttons below and we would be pleased to help you.