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Sir,
can you please explain in example 12 chapter 2
why there is two steps in calculating the revised personal allowance
first was based on 27000 income limit
and then on 100000 income limitI don’t know how it is
Thanks,
You are told that James was born before the 6 April 1948 and therefore would have been entitled to the higher age personal allowance but as the adjusted net income is well in excess of the income limit of 27,000 the PA is reduced to the level of the normal PA (10,000). His adjusted net income also of course exceeds the normal income limit of 100,000 and therefore we also show the reduction that applies to the normal PA.
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