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Paul L

Paul L

Joined: 11/26/2024

  • Income from property tax affected by personal allowance

    Tue, 26 Nov 2024 11:03:10 GMT – Income from property tax affected by personal allowance
    My personal allowance was increased from £12,570 to £13,110 because of a private pension I contribute to. The higher allowance is shown on my P60 and PAYE record, however, on my calculation for tax due on property income, only the lower amount of £12,570 is displayed therefore resulting in a slightly higher tax liability. Would I be correct to query this. I think the calculation should be using the higher allowance, or am I mis-understanding.