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Natalia’s only income in the tax year 2024/25 is trading income of £80,000.
She also has an annual allowance charge of £10,000 as a result of making gross personal pension contributions of £50,000 in the tax year 2024/25.
What is Natalia’s income tax liability for the tax year 2024/25?
annual allowance charge 10000 as added with 80000 than subtracted with personal allowance and income tax liability was 15486
my doubt is why is annual allowance charge added?
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