TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Guide to adjusted net income

HMRC have published a guide explaining the concept of adjusted net income.

The concept is relevant to anyone liable to the:-

  • income-related reduction to the higher personal allowances – for anyone born before 6 April 1948 with an adjusted net income of over £27,000 in 2014/15
  • income-related reduction to the personal allowance – where someone has an adjusted net income over £100,000 (regardless of date of birth)
  • High Income Child Benefit charge - where adjusted net income is above £50,000