Wanted to know about best ways to save tax in London?

I recently relocated here and started a new job. I fall under the 40% band for tax and don’t have any outstanding loans etc. I also read somewhere that the first 10k or 12k earned in the country isn’t taxable.

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The short answer is there's no way to get out of it, you have to pay all the income tax required of you. The long answer is, while the above is still true there are ways to be legally tax efficient. If you've taken a new job here in the 40% bracket with UK payroll (this should be less than £100k/year) then your tax will automatically be taken off in PAYE payroll. You have a personal allowance (£12,570) which you pay 0% on, above this you pay 20% on everything up to £50,270, and above this 40% up to £100k. There's also another 'tax' - National insurance, which you'll pay as well. It'll all come out in your payslip and deducted at source. You can be tax efficient by sacrificing salary in things like pension schemes and company benefits. For example if you pay 1k a month into a pension, you won't pay tax on it. There are similar benefits with things like life insurance, company car hire purchase schemes etc. On some you will save income tax, some national insurance, some both, and some neither - IF your company offers these. If you earn above £100k it gets more complicated... technically the 45% tax bracket doesn't start until £125,140. But if you earn more than 100k they start removing your tax free personal allowance. So for every £2 you make over 100k they remove £1 of personal allowance. Also if you earn 6 figures+ it's not all taken at source. You're required to fill in a tax return every year and calculate what you owe from the upper brackets. If you're not paid on UK payroll then I have no idea what you'll need to pay, but in either case you may also be liable for tax in the UK and in the other relevant countries - it could be worth getting an accountant. Disclaimer - this is just my understanding and doesn't constitute any tax advice

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F. Same boat here, relocated here 2 weeks ago.

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