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Dear Sir,
I’m having a very basic problem.
Do we decide that a person is basic or higher rate tax payer after deducting personal allowance from their income, or do we decide it after deducting personal allowance- i.e by looking at their taxable income?I do hope that you are working through the notes with the lectures as of course whether you pay tax at the basic rate or higher rate is based on taxable income – in your question above you state in both cases AFTER deducting PA!!?. If this question arises out of your studies of loss reliefs, given your previous questions, then some of the loss reliefs apply against total profits which is of course before the deduction of the PA
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