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Help needed with Income Tax

Inexperienced_Investor Posts: 2 Newbie

28 March 2019 at 2:38AM edited 29 March 2019 at 8:00AM in Cutting tax

Hi,

I have an opportunity to sell some privately help stock options from a company I worked at previously. However I've found that given the type of these options any proceeds would be treated as taxable income (not capital gains)

.
Selling them increases my taxable income (along with my salary) to near 180 - 200k for the next (2019-20) tax year (my usual salary is about 1/3rd of this) and while it seemed quite appealing to me initially, I've discovered a lot of this (approximately 55-60%) would go to income tax :sad:

I'd do plan to contribute as much as I can of this to my pension (the 40k limit) but it does not seem like that would help reduce the percentage paid as tax.

I'd really like to know if anyone has any advice on how to maximise this opportunity (or could point me to a reliable tax advisor for this)?

This discussion has been closed.

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