Related Commentary  Related HMRC Manuals

228ZA(1)  If the individual is a high-income individual for the tax year, the amount of the annual allowance for the tax year in the case of the individual is the amount specified for the tax year by or under section 228 reduced (but not below £4,000) by–

(AI − £240,000) ×

1

2

where AI is the individualʼs adjusted income for the tax year.

228ZA(2)  If the amount of the reduction under subsection (1) would otherwise not be a multiple of £1, it is to be rounded down to the nearest amount which is a multiple of £1.

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