Tax reduction beyond pension contributions. What else is available?

Janin1992

I've maximised my pension contributions this year, reaching the £60K limit through salary sacrifice, and have exhausted my allowances from previous years. Even after sacrificing £60K from my salary, I still have slightly over £100K remaining in income for the year. Are there any other avenues available to minimise tax liabilities? I recall reading about high-risk investment schemes that could potentially be utilised for tax reduction purposes.

Dazed_and_C0nfused

VCT or EIS relief.  These don't change your income but do allow a credit against your tax liability.  But they are definitely at the higher risk end of the spectrum.

A more mainstream option is charitable giving using the Gift Aid scheme.

Or earning less.

Janin1992

Thank you. Could you kindly recommend any reputable platforms through which I can purchase these investments?

I wonder if it is too late to buy them to offset income tax for the 2023/2024 year?