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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