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Adjusted net income is your taxable income less certain tax relief’s, such as
Payments to charities made through Gift Aid
Pension payments paid gross without tax relief
Pension payments where you get basic rate tax relief but are due relief at higher rate.
Tom has the following income:
His Total taxable income is therefore = £55,745
Tom also pays:
Tom’s Adjusted net income is calculated from £55,745 less £2,475 pension payments and
£625 gift aid payments leaving a total of £52,645 which will be used to calculate the High Income Child Benefit Charge.
Child Benefit -
Adjusted Net Income