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Estimated Taxable Income
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Bekkilouise1303
Posts: 1 Newbie
in Cutting tax
Hey everyone,
Just looking for a but of advice as I can't seem to find any info on the internet and too costly to call HMRC, if anybody has the personal tax account could you please tell me if the section where it says 'Estimated Taxable Income' should be your salary for the whole year or should it be your salary minus the personal tax allowance of 12,500?
Thanks 😊
Just looking for a but of advice as I can't seem to find any info on the internet and too costly to call HMRC, if anybody has the personal tax account could you please tell me if the section where it says 'Estimated Taxable Income' should be your salary for the whole year or should it be your salary minus the personal tax allowance of 12,500?
Thanks 😊
0
Comments
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I think it should be your pay which would end up being reported on your P60 i.e. before your Personal Allowance was deducted.
If you make "net pay" pension contributions these are deducted before tax so you might have say salary £30,000 less pension contributions £3,000 = taxable pay £27,000.
It is the £27,000 which would be on your Personal Tax Account.0 -
It is the total income.0
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