I’m bit Confuse with the Illustration 2.
They say “Relevant earnings of £250,000 Exceeds Adjusted Income of £210,000, due to that AA for 18/19 will be reduced to £10,000.”
Isn’t the Adjusted Income limit £150,000 rather than £210,000?
S
Sahil·
I think there is a mistake as the tutor mentions using a LIFO basis, but clearly we are actually using a FIFO basis?
Or is there something i am missing out on?
Z
Zaahid·
I caught that too. I'm sure he meant FIFO, but said LIFO by accident. Evidently, he uses the FIFO method.
A
aminxoja·
Thank you for this wonderful lecture sir! This, I think, can't be explained in a better way.
You are "an additional rate tax teacher" )
A
Asif·
I'm but Confuse with the Illustration 2.
They say "Relevant earnings of £250,000 Exceeds Adjusted Income of £210,000, due to that AA for 18/19 will be reduced to £10,000."
Isn't the Adjusted Income limit £150,000 rather than £210,000? ?
O
opentuition_teamAdmin·
part 1 is now correct, here:
https://opentuition.com/acca/tx/pension-schemes/
They say “Relevant earnings of £250,000 Exceeds Adjusted Income of £210,000, due to that AA for 18/19 will be reduced to £10,000.”
Isn’t the Adjusted Income limit £150,000 rather than £210,000?
Or is there something i am missing out on?
You are "an additional rate tax teacher" )
They say "Relevant earnings of £250,000 Exceeds Adjusted Income of £210,000, due to that AA for 18/19 will be reduced to £10,000."
Isn't the Adjusted Income limit £150,000 rather than £210,000? ?
https://opentuition.com/acca/tx/pension-schemes/