Will your Personal Allowance be tapered due to earnings in excess of £100,000?
In the current tax year, (2020/21) the first £12,500 of everyone’s income is tax free (the Personal Allowance). However, for those earning in excess of £100,000, the Personal Allowance is tapered by £1 for every £2 earned in excess of £100,000. This means that for those earning £125,000 or more,…