Tips on reducing your income tax

Description: Based on your experiences what tips and advice cann you give people looking to lessen their income tax burden?

Newest Review: ... Savings product, share, unit trust etc etc. Incidentally, this is good practice anyway, you should keep it up to date and include full names and addresses and telephone numbers of each organisation and let the executor of your will know where it is in case of the inevitable happening. Against each entry put your ... more

... annual income received during the last tax year, up to 5th April. Do it in three columns, the nett amount you actually received the amount of any tax deducted at source and add the two together to show the gross income received. Your employer will have prov...more

Read Reviews for Tips on reducing your income t...

Tips on reducing your income tax: Check & Claim up to 6 years back (2746 words)
by - written on 31/10/01 (Very useful, 4053 readings)
Rating:

For the average person you could say there are two sorts of income tax; that you pay on earned income and that on unearned income, ie savings. I can just about live with the fact of having to pay tax on income and anyway if you are employed by any company you should be in the PAYE system and you don't have any choice about it. Paying tax on my savings income though does upset me and it is worth exploring ways to minimise it Earned Income. There is just one tip about tax on earned income, do check that your tax coding correctly reflects all allowances you are entitled to and that you understand all the deductions and adjustments that are ... Read the complete review

You want to pay less tax? (2054 words)
by - written on 14/07/01 (Very useful, 3457 readings)
Rating:

Me, I’d like to pay a lot more tax. I’d like to be paying tax at 40% on most of my income – but that would mean I’ve got an awful lot more than I’ve got now! I’d better nail my colours to the mast straight away – until five years ago I was an Inspector of Taxes. In the 25 years I spent with the Department I found them to be good employers 90% of the time, and I found 90% of the people who work there to be great people. In other words, it’s just like any other organisation. If you’ve started reading this op on the basis that you’re going to learn lots of splendid wheezes to stop you paying tax, ... Read the complete review

Read 2 reviews

Write a review