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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15914
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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My question is based upon what constitutes 'annual' salary.

Resolved Question:

My question is based upon what constitutes 'annual' salary.
I am currently looking to increase my 'salary' to the maximum allowed without impacting upon my personal allowance, which I understand is £100k ??
Conflicting advice surrounds whether the £100k includes the value of P11D benefits such as Private Health ?
Submitted: 10 months ago.
Category: Tax
Expert:  TonyTax replied 10 months ago.

Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.

Expert:  TonyTax replied 10 months ago.

Take a look here for information on how to calculate the figure you need. It is called adjusted net income.

Yoru adjusted net income is comprised of all your taxable gross income whether tax has been deducetd at source or not. That includes taxable employment benefits such as a company car and private health insurance. Deduct from the total gross income the gross equivalent of pension contributions paid net of basic rate tax relief, pension contributions pad gross and the gross equivalent of gift aid donations paid net of basic rate tax relief. THat will give you your adjusted net income for the purpose of determining your entitlement to the personal allowance.

I hoe this helps but let me know if you have any further questions.

TonyTax and other Tax Specialists are ready to help you
Customer: replied 10 months ago.
Many thanks Tony. We have looked at this numerous ways on numerous sites so thank you for the clarification.

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