Higher rate tax
50% tax rate and Personal Allowance clawback - 09 March 2010
The new tax year is nearly upon us and from 2010/11 year there are two significant changes for higher earnining employees.
The first change is the highly publicised new 50% tax rate for income above £150,000. If you have employees paid at this level March sees your last chance to benefit from the lower rates in 2009/10.
There is a small window of opportunity left to apply a simple strategy. If you have any bonuses in the pipeline for your high paid employees you could advance them pay before 5 April 2010, with your employees benefitting by a 10% tax saving.
