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Tax Efficient Strategies for High Earners

As a high earner, managing your tax liabilities is not just about compliance, but also about maximising your financial efficiency and ensuring that more of your hard-earned money works for you. At Oakmere Wealth Management, we are committed to empowering our clients with bespoke financial planning that not only meets their immediate needs but also secures their long-term aspirations.

Here are several strategies to enhance your tax efficiency:

Maximise Pension Contributions

One of the most effective ways to reduce your tax bill is through making the most of your pension contributions. Contributions to your pension are free from income tax up to a certain limit, making this an excellent way to accumulate wealth while reducing taxable income. For 2024/25, the annual allowance is typically £60,000, but it's important to consult with a financial planner to tailor this to your specific circumstances, especially if you're subject to the tapered annual allowance.

Utilise ISA Allowances

Individual Savings Accounts (ISAs) offer a fantastic opportunity to earn interest or returns without having to pay tax on them. The annual ISA allowance is £20,000, and utilising this can form a crucial part of your tax planning strategy. You can choose from various types of ISAs, such as Cash ISAs, Stocks & Shares ISAs, or Innovative Finance ISAs, depending on your risk tolerance and investment goals.

Consider Capital Gains Tax Allowances

Every individual in the UK has an annual capital gains tax (CGT) exemption, which for the tax year 2024/25 stands at £3,000. Planning the sale of assets like shares or property to stay within this limit could significantly reduce your CGT liability. Strategic disposal of assets over multiple tax years could also be beneficial.

Charitable Contributions

Charitable giving can reduce your taxable income. If you give under Gift Aid, charities can claim an extra 25p for every £1 you donate. For higher rate taxpayers, you can claim additional tax relief, making this not only an altruistic choice but also a tax-efficient one.

Family Tax Planning

Involving your family in your tax planning can also help spread income more evenly and reduce the overall tax burden. This could involve transferring assets to your spouse or arranging for adult children to own shares in the family business, where appropriate.



Effective tax planning is a cornerstone of sophisticated financial management for high earners. At Oakmere Wealth Management, our approach is to collaborate closely with our clients, building long-term relationships based on trust and commitment to craft personalised strategies that empower you to maximise your financial potential and security.


To explore how these strategies can be tailored to your personal situation, please contact us at Oakmere Wealth Management. Together, we can develop a plan that not only addresses your tax concerns but also helps you live your best life.


The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select, and the value can therefore go down as well as up. You may get back less than you invested.

An investment in a Stocks and Shares ISA will not provide the same security of capital associated with a Cash ISA.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief generally depends on individual circumstances.

Please note that Cash and Innovation Finance ISAs are not available through Oakmere Wealth Management or St. James's Place.


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