Tax changes for high earners

How has this year’s tax year affected you?

Higher-rate taxpayers earning £50,000 a year will see a £236 tax cut in this tax year. The tax-free personal allowance increased to £11,850, up from last years figure of £11,500, and the higher-rate tax threshold for people paying the higher rate of Income Tax, which currently stands at 40%, rose from £45,001 to £46,350.

Time to talk to Gale and Phillipson?

The importance of taking financial advice when it comes to tax planning it becoming more essential and can never be overestimated – and the sooner you start planning, the better for you.

Please read our factsheet for more on tax changes for high earners.

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Regulatory Statement

Gale and Phillipson Investment Services Ltd, Gale and Phillipson Advisory Services Ltd, Gale and Phillipson General Financial Services Ltd are all authorised and regulated by the Financial Conduct Authority (Reference Numbers 431387, 142752, 195080) and trade under the name Gale and Phillipson. Gale and Phillipson (SE London) Ltd is authorised and regulated by the Financial Conduct Authority (Reference Number 195522) and trades as Indigo Financial Advisors. Registered in England and Wales numbers 05409822, 02232959, 03751076 and 04077157. Registered office: Gallowfields House, Fairfield Way, Richmond, DL10 4TB.

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