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.