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@liamxx7 The latter. Look at your payslips and historic P60s for examples.

@liamxx7 Income as it appears (or will appear) on your P60, plus the value of taxable benefits from your P11d covers A, B & D; C is irrelevant except when calculating your annual pension allowance Add income from savings interest, which is all taxable apart from ISAs and Premium Bonds: your...

@vido Yes and no: the rebate is handled by adjusting the threshold between basic and higher rates, but they do reduce adjusted net income.

@joltor0517 There's a lot of confusion between "tax-free (by which we mean taxed at 0% but still taxable)" and "tax-exempt". Personal allowances are the former; Premium Bonds, ISAs, the Trading Allowance are the latter.