Darren_2308

So I am completely clear. Are you saying when calculating 'adjusted net income' the following CAN be deducted - 1) trading allowance of £1k - i.e. I only have to count as income business profits - not the £1k allowance I've taken? 2) workplace pensions where pension contributions were taken from net and pension provider has provided relief at 25%. i.e. I can take off the grossed up amount. i.e. contributions from our net pay PLUS 25%? Thanks,

Just struggling to 100% understand if I am below or above last years high income child benefit threshold - Threshold for 2023/24 was £50k Full time employment figure on P60 - £41,350 Self Employed Income - £9,575 Self Employed 'profit' - £8,575 as have taken the £1k trading allowance So my first questions is - 1) is my adjusted net income here £50,925.08 (all income) or £49,925.08 (all income minus trading allowance) - i.e. is trading allowance part of the adjusted net income calculation? The latter would obviously take me below the £50k threshold My second questions is - 2) Forgetting the above for a moment as it may be irrelevant based on this question. I am a bit confused about the wording of "take off pension contributions - If you made a contribution to a pension scheme where your pension provider has already given you tax relief at basic rate, take off the ‘grossed-up’ amount - what you paid plus the basic rate of tax." Put simply, I am on a relief at source arrangement with my workplace pension (pension provider claims back the 20% in addition to my payments). So how does the above work, is this an allowable education? i.e. are all workplace pensions deducted from adjusted net income in someway? Thanks,