UK Higher Rate Income Tax - Due to Bonus

Oil_Engineer

I am lucky enough to receive a retention bonus [for a 4 year tie in] of 50K (in shares) this month, on top of my salary of 65K, and annual bonus, 10K. The share acquisition date coincides with a holiday to Dubai. Is there any way that I can reduce my tax exposure?

Thanks!

zagfles

Oil_Engineer wrote: »

I am lucky enough to receive a retention bonus [for a 4 year tie in] of 50K (in shares) this month, on top of my salary of 65K, and annual bonus, 10K. The share acquisition date coincides with a holiday to Dubai. Is there any way that I can reduce my tax exposure?

Thanks!

Wrong forum - try the "cutting tax" forum.

Though I'd say a SIPP or some kind of pension arrangement is an obvious way to reduce tax though you obviously tie up the money till retirement. With income over £100k you start losing the personal allowance which works out at an effective 60% tax rate so well worth using a SIPP or suchlike to reduce your income below £100k.

But post in the other forum to get more ideas.