PTP TR-Personal allowance not being given for clients with an income over £100,000
- Article ID
- kba-03019
- Article Name
- PTP TR-Personal allowance not being given for clients with an income over £100,000
- Created Date
- 10th January 2012
- Product
- Problem
- When running a calculation for a client with income in excess of £100,000, personal allowance is not being given.
- Resolution
-
From tax year 2011-12 and onwards, if the adjusted net income is over £100,000, the Personal Allowance is reduced by half of the amount – £1 for every £2 – over that limit. If the income is large enough, the Personal Allowance will be reduced to nil. This £100,000 limit applies irrespective of age.
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