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The major obstacle
is TAX!

As at January 2023 it is public discussion that the amount, not just the rates of tax we are paying are the highest in decades.

A reminder below of what we have become used to shows how it is vital to use all relevant tax allowances. The Taxes you are paying are below:

On a salary of £50,000pa, total National Insurance of £11,015pa is paid of which £4960 is paid by the employee.


On a salary of £100,000pa, total National Insurance of £20,290pa is paid of which £6611 is paid by you. It can be easily forgotten that this is on top of income tax.

 

If a gain is made, Capital Gains tax is paid.

If you receive Dividends, Dividend tax will become due.

Go shopping with what is left, and then you will probably pay 20% Value Added Tax

Due an inheritance?  Inheritance Tax - IHT is paid first.

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