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ISA AND SELF-ASSESSMENT
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sbhullar
Posts: 15 Forumite
in Cutting tax
If you earn over 100k and deposit some into an ISA to bring this down to less than 100k in other bank accounts- does that mean you do not have to do a self assessment?
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You are getting confused.
If you earn over £100k putting money into an ISA doesn't alter that.
If you earn over £100k and put money into a personal pension or SIPP then the pension contributions don't alter the fact that you have earned over £100k but they do reduce your "adjusted net income".
Adjusted net income is what your Personal Allowance is based on.
If you earn over £100k you will need to complete a Self Assessment return even if your adjusted net income is less than £100k.0
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