Stone Accountants specialise in the management of doctors tax and accountancy affairs. We provide independent and professional accountancy, financial and business advisory services to the medical practices.
How can you avoid the 50% tax rate?
Earn in excess of £150,000 p.a. and you could be liable for income tax at 50% and NIC’s at 2% – making 52% of your taxable income in total.
The good news is there are many avenues to be explored in moving you to a different tax bracket.
It may be possible for instance, to split some of your income with a spouse or civil partnership, resulting in income being taxed at 20% or 40%.