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If you are an individual who is exempt from Medicare taxes, you still may be subject to the Net Investment Income Tax if you have Net Investment Income and also have modified adjusted gross income over the applicable thresholds.
Most forms of investment carry a tax liability on any gains. By educating yourself on your options you can reduce that liability. Some of the main ways to reduce the tax you pay on savings and investments include: 1  Using any allowances that may be available to reduce tax liability.2  Using tax advantaged investment structures â the most obvious being a pension. 3  Taking full advantage of your annual capital gains tax allowance.rish government bonds are exempt from capital gains tax in the hands of individuals. For this asset class, income, rather than capital gains, tends to be the main source of investment return in most periods.