Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Tax Credits Manual

HM Revenue & Customs
, see all updates

Eligibility - income (calculation): Income calculation - general deductions (Info)

When calculating income for tax credits purposes deduct

  • the amount of any banking charge or commission payable for the cost of exchanging foreign currency (income that is made in a currency other than sterling)
  • the gross amount of any qualifying donation (Gift Aid) made by either customer as approved under Chapter 2 of Part 8 of ITA (Gift Aid)
  • the amount of any contribution made by either customer to a registered pension scheme together with the amount of any tax relief due on those contributions.