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Reply to: Taxable pay vs Total Gross
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Previously on "Taxable pay vs Total Gross"
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"Total gross" can include non-taxable elements (e.g. pension), hence we have "taxable pay". It's not possible to answer usefully without knowing in what context these terms are being used or abused.Originally posted by TheCyclingProgrammer View PostIf you're thinking if dividends, then it's the grossed up value that counts as taxable income when accounting for the personal allowance and tax rate thresholds. Likewise with salary it's the gross amount.
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If you're thinking if dividends, then it's the grossed up value that counts as taxable income when accounting for the personal allowance and tax rate thresholds. Likewise with salary it's the gross amount.
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No, I think you have that the wrong way around. But for the avoidance of doubt perhaps you can expand on what you mean by "taxable pay" and "total gross", and what you believe the difference to be?Originally posted by amarkitanis View PostWhile I know what the difference is between taxable pay and total gross, I want to know which one should be taken into account for calculating how much personal allowance one has left.
I believe it's the total gross correct?
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Taxable pay vs Total Gross
While I know what the difference is between taxable pay and total gross, I want to know which one should be taken into account for calculating how much personal allowance one has left.
I believe it's the total gross correct?Tags: None
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