Personal Savings Allowance

Any views on whether the unsliced chargeable gain on an onshore bond is used when working out if the client is a basic, higher or additional rate tax payer for the purposes of whether they have a £1,000 , £500 or £0 Personal Savings Allowance. 

The draft Finance Bill 2016 legislation does not specifically use a stated definition of adjusted net income which is of course what we use for seeing if someone has lost or starts to lose the Personal Allowance.  Instead the draft Finance Bill 2016 legislation uses another test which uses the terminology “…. Income on which income tax is charged at the additional rate or dividend additional rate” and “…. Income on which income tax is charged at the higher rate or dividend higher rate”  but I am unsure of whether you use the unsliced or sliced chargeable gain in that assessment.

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