Personal Tax

Income tax is the tax you pay on most of the money you earn, such as your salary, income from a pension or profit from self-employment. Most people can earn a certain amount each year tax free before it applies. How much you pay depends on how much you earn and the allowances open to you, and planning well can help you keep more of it.

Most people have a tax-free personal allowance each year, and you only start paying income tax on earnings above it. The exact figure can change from year to year, and it can be reduced for higher earners or affected by your circumstances. Good planning helps you make the most of the allowance you have.

It depends on your income, where it comes from and the allowances and reliefs available to you, so there is no single answer that fits everyone. We cannot give you a guaranteed figure, but we can help you understand your likely position and, more importantly, arrange your finances so you pay no more than you need to.

It is the amount most people can earn each year before income tax starts to apply, often called the personal allowance. The exact figure can change from year to year and can be affected by your circumstances, so we plan to the rules in force at the time rather than to an old number.

Often through making better use of what is already available: your allowances, tax-efficient saving through pensions and ISAs, and sensible timing of when you take income. The right approach depends on your circumstances, which is what advice is for. This is legitimate planning, not artificial schemes.