Hopefully Quick Tax Question!
Does your taxable income allow for your personal allowance e.g. if you had a gross salary of £50k and a tax code of 1000L would your taxable income be £50k or £40k? I appreciate this is simplistic and you'd need to include any BIK and can deduct pension payments etc. but just looking at the headline figure. I assume it is the former but hoping for the latter.