Estimated income for current year

Post-award examinations. If the customer asks for the award to be based on their estimated income for the current year

check RTI for their current year income

estimate the customer's expected annual income from the information on RTI.

To do this

If the Pay Frequency is shown as ‘Calendar Monthly’

Divide the total income by the number of the month on RTI, then multiply by 12.

For example

If the income shown on RTI is £7,000 and we are now in July, shown on RTI as ‘Tax Month Number 4’, the calculation will be;

7000 ÷ 4 x 12 = 21000

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