1.   A maximum of two percent relief is allowed against his or her entire taxable income.

2.   Money received in rent is included as part of your taxable income.

3.   The average tax rate is the total tax paid divided by total taxable income.

4.   The benefit counts as taxable income, but it is not means-tested and there are no National Insurance contribution conditions.

5.   These allowances, plus a few others, are deducted from the total income to produce the taxable income.

6.   What if I wish to give a sum of capital or a sum in excess of my annual taxable income?

7.   He understated his taxable income.

8.   Capital allowances deducted from the taxable income may be higher in the early years thin book depreciation, which may be charged over a longer period.

9.   But a new rate of twenty per cent has been introduced for the first two thousand pounds of taxable income.

10.   Also, health insurance premiums for unmarried partners count as taxable income.