Thank you for your feedback.

Was this useful?

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.

Thank you for your feedback.

Was this useful?