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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, the 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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