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Calculate income tax for 11/12
Trading income 193900
BSI (net) 13800
NS&I easy access savings account 9800
ISA accounts 4150
Div received 36180
Charitable donation (net) 200
Solution:
Trading income 193900
Interest income 13800*100/80+9800 27050
Div income 36180*100/90 40200
PA –
(35000+250)@20% 7050
(150000-35250)@40% 45900
(193900-150000)@50% 2195027050@50% 13525
40200@42.5% 17085
Tax already paid 3450+40200*.1 (7470)
tax payable 98040Another question
Employment income 45000
BSI (net) 2000
National Lottery win 5000
Charitable donation (gross) 2000
Solution:
aUnder 65/b64-74/c75+
Employment income 45000
Interest income 2000*100/80 2500
PA (a7475/b9940/c10090)
a37525/b35060/c34910
a(35000+2000)/ b35060/c34910@20% a7400/b7012/c6982
a(37525-37000)/@40% 210(37000—b35060/c34910)@20% b388/c836
2500/ (b35060/c34910+2500-37000)@40% a1000/b224/c164
Tax already paid 2500*.2 (500)
Tax payable a8110/b7124/c7482
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