Does your annual income exceed £42,000?
If your total income exceeds £42,475 you will be liable to Higher Rate Tax at 40% (or 50% if your income exceeds £150,000).
Remember, investment income (bank interest / share dividends / rental income etc) count towards this limit.
As a taxpayer, if you fall within this category, I will be able to calculate and advise you of your Higher Rate Tax liability. Depending upon your circumstances, I may also be able to discuss with you any tax planning steps that could be taken to reduce your exposure to Higher Rate Tax.
