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Higher Rate Tax

The Higher Rate Tax is the tax rate that you pay on the portion of your income between £50,000 to £150,000. The tax rate itself is 40% for this portion of your taxable income.

If you earn over £100,000, you would also have to file a Self Assessment tax return – even if you’re a full-time employee and your employer is already taking care of your taxes through PAYE. This is just one of those random rules.

Also, once you earn over £100,000, your tax-free Personal Allowance decreases by £1 for every £2 that you earn above £100,000.

That means that for your income between £100,000 and £125,000, your tax rate is actually 60%.

More guides & useful information

Let us sort your Self Assessment online. £119, all in.

That’s right. No matter how complicated it gets or why you need to do a return in the first place, it’ll cost £119 to get it done. That includes VAT, last-minute changes and all the support you may need.

How it works

1. Answer a few simple questions

And we mean a few. After a couple of minutes of answering questions online we’ll have everything we need to start working on your tax return.

2. Then get paired with a tax accountant

That’s right, you’ll be matched with a real accountant who is best suited to prepare your return. Plus, they’re on hand for questions whenever you need.

3. We file your Self Assessment for you

Once you’ve signed off your return, your TaxScouts accountant will file your return online with HMRC. That’s it! We told you it was simple.