How can you save your income tax before deducting from Payslips? 17 Apr 2023

There are several ways to save income tax before it is deducted from your payslip in the UK. Here are some options:

Make Contributions to a Pension Plan - One way to save income tax is to contribute to a pension plan. Contributions to a pension plan are tax-deductible up to certain limits, which means that you can reduce your taxable income and save on income tax.

Claim Tax Credits - If you are eligible for tax credits, you can claim them to reduce your income tax liability. Tax credits are available to low-income earners, families with children, and people with disabilities, among others. Order Wage Slips Online

Use Tax-Free Allowances - The UK government offers various tax-free allowances, such as the Personal Allowance, which is the amount of income you can earn before you start paying income tax. Other tax-free allowances include the Marriage Allowance, Blind Person's Allowance, and the Trading Allowance, among others.

Make Charitable Donations - If you make charitable donations to registered charities, you can claim tax relief on your donations. This means that you can reduce your taxable income and save on income tax.

Invest in Tax-Efficient Savings Accounts - There are various tax-efficient savings accounts in the UK, such as Individual Savings Accounts (ISAs), which allow you to save money without paying income tax on the interest earned.

It is important to note that these options may not be suitable for everyone, and you should seek professional advice before making any decisions that could affect your tax liability.