One of the major tax implications for high earners is that you start losing your Personal Allowance over \u00a3100K – and the dreaded (but unofficial) 60% tax rate. As soon as you start earning over \u00a3100,000, you gradually lose your \u00a312,570 income tax Personal Allowance, pound by pound. <\/p>\n\n\n<\/div> \n\n
Avoid costly mistakes and let Taxfix take care of it for you. Our UK-accredited accountants make filing quick and stress-free, starting from just \u00a3119.<\/span><\/p>\n<\/div>\n <\/div>\n\n \n \n Also important to remember is that you may have to do a tax return. HMRC will check<\/a> what\u2019s known as your Adjusted net income<\/a> when you do this, to work out whether you owe money or are due a refund based on your high-earner salary. <\/p>\n\n\n\n From April 2023, the threshold for submitting a self assessment increased to \u00a3150,000 per tax year. And from April 2024, the threshold was abolished, meaning high earners no longer need to file a tax return.<\/p>\n\n\n\n But, if you’re earning \u00a3100k+, you should still make sure to contact HMRC to check you’re on the correct tax code! <\/p>\n\n\n\n