Considering the most effective methods of easing your tax liability is as important now as it ever has been.
If you’re an NHS Consultant with income of over £150,000, you’ll currently have an income tax liability of 45% on anything you earn above this level.
Furthermore, in 2020/21, if you have an adjusted net income of more than £100,000, you will be paying an effective tax rate of 60% on income between £100,000 and £125,000. This is because of the erosion of your personal allowance.
We will sit down for an initial consultation with you and calculate whether you’re maximising your ISA and Capital Gains Tax allowances. Careful planning and complete consideration of your cash-flow requirements will help us to put a plan in place that will maintain your desired lifestyle and sustain your wealth on into retirement.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief generally depends on individual circumstances.
*Locum cover and business exit strategies may include products and services that are separate and distinct to those offered by St. James's Place.
If you would like to speak to us about something particular, or wish to find out more about the specialist medical advice services we can offer, please get in touch.