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Dear sir,
in example 17 chapter 1 even though the trading income more than £100000 the personal allowance still applied.
Whey did this happen even though the role state that he will lose £1 for every £2 he earn over the £100000.
could you explain this point to me please.
Look at the notes! The restriction to the personal allowance does not apply if a taxpayer “earns” over 100,000 only if his ANI exceeds 100,000.
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