Legally avoiding taxes in London
Is there anything we can do to legally avoid or at least reduce income tax in London? I don't want 40 to 45% of my hard-earned money being taken away
Is there anything we can do to legally avoid or at least reduce income tax in London? I don't want 40 to 45% of my hard-earned money being taken away
| +30 | SpaceX IPO - what are your thoughts | 5 | 15h |
| +27 | Should I use Claude or chatgpt? | 14 | 9h |
| +21 | Funny Things to Say to Interns | 6 | 3d |
| +17 | How did you meet your significant other/partner? | 13 | 12h |
| +17 | London's future as a financial centre | 18 | 1d |
| The Great Debate | 9 | 1h | |
| +7 | Test post will be deleted automatically. | 11 | 18h |
| +7 | E ink/electronic notepads | 4 | 12h |
| +6 | Stay Sharp All Day With Best Modvigil 200 MG Tablet | 0 | 9h |
| +5 | get a model before you model | 3 | 1d |
Career Resources
Okay firstly just want to make sure you understand that tax brackets are not flat, they are progressive. You do not pay 40% tax on all your income, just the amounts over 50,000 (and 45% for over 150,000)
Basically reduce your taxable income. The main way to do this is to contribute towards your pension either via salary sacrifice into you workplace pension (income is taken out before tax) or privately contributing to a SIPP (you have to claim back tax on money you put in there/money is added to the SIPP as if it was never taxed).
If you were to salary sacrifice all your income up to the 20% tax threshold that would leave you with ~£50,000 of taxable income or about £35,000 of income after tax, NI, and student loan repayments. More than enough for most people to live on.
lol
there are a few tax efficient investment schemes. EIS schemes - you basically reclaim tax losses on the 9 shit investments the fund makes for every 1 ten bagger.
TEACH ME
VC called MMC will give u access to one of their products
Sunt optio facilis natus ab assumenda animi. Quia quis autem consequatur iusto incidunt recusandae enim. Aut ea eos saepe molestias. Id distinctio id sunt quia porro. Cum ducimus animi ut velit est magni in mollitia.
Amet aliquid numquam facilis dolore. Eius occaecati voluptas molestiae quasi et rem. Sit doloremque itaque dolores velit vel commodi. Voluptatem suscipit laborum aut reiciendis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...