More workers than ever are finding themselves getting close to or exceeding the higher rate tax bracket, recent figures have revealed.<\/p>\n
In this blog, we are going to share nine essential tips employees can use to keep themselves out of the higher rate tax bracket and take home more of what they earn.<\/p>\n
Flat rate expenses<\/strong><\/p>\n If you incur work-related expenses in the course of your job, you may be able to claim tax relief. You can claim tax relief on flat rate expenses if you\u2019re employed by someone and:<\/p>\n The amount you can claim depends on your job and the industry you work in. You can learn more about the scheme here<\/a>.<\/p>\n Claim tax relief on workplace pension contributions<\/strong><\/p>\n Ensure HM Revenue & Customs (HMRC) is aware of any additional workplace pension contributions you make each year.<\/p>\n Make full use of your Annual Allowance<\/strong><\/p>\n The Annual Allowance – currently \u00a340,000 – is the amount of money you can save in your pension pot in a tax year (6 April to 5 April) before you have to pay tax.<\/p>\n Gifts to charity<\/strong><\/p>\n If you\u2019re claiming tax back through your Self Assessment tax return or by asking HMRC to amend your tax code, keep records showing the date, the amount, and which charities you\u2019ve donated to.<\/p>\n Working from home?<\/strong><\/p>\n While millions of people have been told to work from home during the coronavirus pandemic, few are aware that they can claim tax relief for the additional costs incurred.<\/p>\n\n