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Calculating Adjusted Income for Annual Allowance
theblueflash
Posts: 65 Forumite
I’m “fortunate” enough to be having to do this calculation for self-assessment and am working out my adjusted income. I have a question on whether I can take my charitable giving (£700 grossed up) off of my calculation?
currently:
(P60 taxable income + P11d + salary sacrificed pension contributions) minus £312 work from home = “Adjusted Income”
Does anyone with handy tax knowledge know if I can ALSO subtract my £700 grossed-up GiftAid Charity Contributions from the final reckoning?
Does anyone with handy tax knowledge know if I can ALSO subtract my £700 grossed-up GiftAid Charity Contributions from the final reckoning?
Thank You!
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Comments
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Thank you @Dazed_and_C0nfused - that answers that clearly. Royal London’s advisor guidance was less clear but that’s, ehrm, crystal!TBF0
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