Dave_ebay Ebay
Joined: 10/2/2023
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RE: Calculating Net Adjusted Income for Child Benefit High Income Tax Charge
Hi, I am self employed and I need help to find out if I have to pay higher rate tax charge pls. My sa302 has the following information: Profit from business 30k and profit from Uk land and property 32k, minus personal allowance 12,570. This makes the taxable income 49,430. Also towards the bottom it mentions ‘minus relief for finance costs’ for land and property at 20% of 15k (total my mortgages interest for the year). My accountant is adamant that I’m not due any higher rate tax charge but I’m not sure. Any help would be much appreciated pls.