Tax relief for higher earners

CSL0183

Just re-read your original post. 

You state that your gross income is around £43k and you get a 10% bonus so this year your GROSS income is likely to be around £47,000-£47,500? Or does the bonus go into the following year which then contributes to the £43k (ish) yearly income forecast for 20/21 FY?

To help you avoid 53% tax and/or in turn achieve 53% tax relief, we need full details and clarification as you are right on the cusp of the SNP’s rip off 53% band. Make it work your way, not their way. Even if your income isn’t high enough this year, it soon will be so you need to protect yourself the best you can by always bringing your taxable income down below that £43,430 threshold. 

CSL0183

cloud_dog said:

So Sal Sac in Scotland is even better than England as the total saving is 33% (21% tax and 12% NI at BRT).

I may have misread one of the OPs above posts but I think they might still be a little confused, as they refer to a LISA being a better option.

Yes, in Scotland, 
SS BRT is 33%

SS HRT (Above £50k) is 43%

SS HRT (Between £43,430-£50k) is 53%

Dazed_and_C0nfused

CSL0183 said:

cloud_dog said:

So Sal Sac in Scotland is even better than England as the total saving is 33% (21% tax and 12% NI at BRT).

I may have misread one of the OPs above posts but I think they might still be a little confused, as they refer to a LISA being a better option.

Yes, in Scotland, 
SS BRT is 33%

SS HRT (Above £50k) is 43%

SS HRT (Between £43,430-£50k) is 53%

BRT (inc NI) is only 32% in Scotland
Intermediate rate (Inc NI) is 33%

CSL0183

Dazed_and_C0nfused said:

CSL0183 said:

cloud_dog said:

So Sal Sac in Scotland is even better than England as the total saving is 33% (21% tax and 12% NI at BRT).

I may have misread one of the OPs above posts but I think they might still be a little confused, as they refer to a LISA being a better option.

Yes, in Scotland, 
SS BRT is 33%

SS HRT (Above £50k) is 43%

SS HRT (Between £43,430-£50k) is 53%

BRT (inc NI) is only 32% in Scotland
Intermediate rate (Inc NI) is 33%

Yes, fair enough. Intermediate rate (21%) starts at £25k in Scotland. Basic rate between £14,500 and £25,000 (20%) and the starter £12500-£14500 (19%) Although for pension purposes, the 19% gets treated as 20%.