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Posted Mon, 15 May 2023 12:42:05 GMT by AK1234
Hi I have a few queries on net adjusted income calculation: My total income is £105,000 I have a Benefit In Kind of £2,000 I contribute £9,000 into pension via salary sacrifice So I believe my net adjusted income is £98,000 (£105,000 + £2,000 - £9,000). Is this correct? In addition, I will receive £800 in interest from ISA and £450 in interest from a savings account. Can you please confirm if these should be added to the net adjusted income calculator. Currently, I assume not as ISA is protected from tax and the interest from the savings account is under the £500 tax free allowance. I would like confirmation if my assumptions are correct or not. Thank you
Posted Fri, 19 May 2023 15:28:43 GMT by HMRC Admin 5

Please take a look at guidance here - 

Personal Allowances: adjusted net income

to help you calculate the adjusted net income.

Thank you

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