Personal Tax AAT Mock Question 1.5
mcd
Just JoinedRegistered Posts: 9
Hi
I am stuck on working out the Personal Allowance for this question. I have taken the excess over the £100000 which is £6329/2 = £3164.50
I deducted this from £9440  £3165 = £6275 but the answer is £5166.
Can someone please tell me where I am going wrong? Is there a figure from the pensions I am not including?
Thanks
I am stuck on working out the Personal Allowance for this question. I have taken the excess over the £100000 which is £6329/2 = £3164.50
I deducted this from £9440  £3165 = £6275 but the answer is £5166.
Can someone please tell me where I am going wrong? Is there a figure from the pensions I am not including?
Thanks
0
Comments

MarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,433Hi
I don't have all the information given in the question but to arrive to the adjusted net income you deduct grossed up personal pension contributions and grossed up charity donations.
I hope this helps.0 
Thanks0