Planning for the new tax year

What does this mean....what am I missing...? For 2010/11 onward, where "adjusted net income" exceeds £100,000 the personal allowance is reduced by £1 for every £2 over £100K - tapering to £0 at £112,950 onward. Someone with, say, £140K therefore gets £0 PA - what is the £2,590 a year mentioned....?

The comment that the allowance has been cut by a maximum of £2,590 is incorrect. If the whole personal allowance is withdrawn the effect is an increase in tax of £2,590 i.e. £6,475 x 40%. This isn't the same thing.

Thanks for the clarification. Thought I'd missed something there when £2,590 was mentioned. As a sole practitioner I'm paranoid about missing updates.

Apologies for the oversight there. Didn't mean to panic you!

Your information on the increase to women’s state pension age is, I believe, misleading.  The increase does not take place as a single overnight change from 6 April, nor does it increase by ‘two years every year’.  It is a graduated change over ten years between April 2010 and April 2020.  Those born after 5 April 1950 are potentially affected and can find a state pension age calculator on the Directgov website to check exactly when their ‘retirement age’ will be.  It should also be noted that pension credit entitlement will similarly change.  For both men and women, is currently available to eligible claimants from the age of 60. But a further consequence of the state pension changes is that this minimum age will also from 6 April 2010 begin a 10-year phased increase to 65 following the same pattern as for women’s state pensions.