Personal Finance
Personal and other Tax Allowances for High Earners are being withdrawn
The withdrawal of allowances starts at £100,000 for 2019. Allowances will be withdrawn at the rate of £1 for every £5 of income over the threshold. All allowances apart from a £1,000 pension contribution will be withdrawn, in the following order :
- Personal allowance
- Dependent relative allowance
- Mortgage interest relief
If you have had all of your allowances removed in your coding notice automatically and you think you are entitled to some allowances, you need to contact the States of Guernsey Revenue Service with details of your 2020 income.