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  • Relief for finance costs reduced to maximum allowable

    I have input my tax calculation like the following : Foreign income after all allowance: £8358 Foreign savings £ 12140 therefore total income received £8358+£12140= £20498 minus personal allowance £12570 total income on which tax is due £20498-£12570=£7928 income tax charged afer allowance and relief in basic rate (£7928-£6000)x20%=£1928 x 20%= £385.6 minus Marriage allowane transfer £ 252 I had £8289 finance cost filled in 24.1 of SA106 however i saw £0x20% in the line (which i expect it should be £8289 x 20%= £1657.8 while i have the relief) minus Reflief for finance costs £8289 reduced to maximum allowable £0x20% and this made the final Income Tax due after tax reductions £385.6- £252= £133.6 only (which i expect it should be £385.6- £252- £1657.8) Can i know the reason i dont have the relief of finance cost of residential property?