T TRS30 Registered User Messages 536 26 Nov 2013 #1 Are PAYE and USC due on different levels of rental income? I had a rental profit for 2012 and just got my P21 statement. It has one level of income before Capital Allowance for USC and one after for PAYE. Does this sound correct?
Are PAYE and USC due on different levels of rental income? I had a rental profit for 2012 and just got my P21 statement. It has one level of income before Capital Allowance for USC and one after for PAYE. Does this sound correct?
J Joe_90 Registered User Messages 2,221 26 Nov 2013 #2 PAYE Pay As You Earn is applied to Employment income only. Income tax is payable on all income after capital allowances. USC is payable on income before capital allowances.
PAYE Pay As You Earn is applied to Employment income only. Income tax is payable on all income after capital allowances. USC is payable on income before capital allowances.
T TRS30 Registered User Messages 536 26 Nov 2013 #3 Joe_90 said: PAYE Pay As You Earn is applied to Employment income only. Income tax is payable on all income after capital allowances. USC is payable on income before capital allowances. Click to expand... Thanks, that is exactly what I was looking for.
Joe_90 said: PAYE Pay As You Earn is applied to Employment income only. Income tax is payable on all income after capital allowances. USC is payable on income before capital allowances. Click to expand... Thanks, that is exactly what I was looking for.