Chapter 10 – Pension Schemes – ACCA Taxation (TX-UK) lectures
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Hi, for practice question 17(b):
127,700 @ 20% 25,540
30,000 @ 40% 12,000 Shouldn’t it be £29,730? (£157,430 – £127,700)
20,000 @ 40% 8,000
exactly what i thought. i take it as an error
I also think so.
In illustration 3 can someone explain where the £312 adjusted net income comes from please? Should it not be 350-70=280?
Its not 312000. Answer says as the limit has exceeded 312000 i.e 240000-312000=72000×50%=36000(which is max deduction for allowance)
So he will only get a relief of 4000
I don’t get it. Where is the 312000 figure coming from ? Isn’t the limit supposed to be 240000 ? Also where is the unsed AA of 4000 coming from ? Hasn’t it already been used ?
It seems the adjusted net income for the calculation of Personal Allowance which you have done above is different from the adjusted net income for the calculation of Annual Allowance which is what was done in the illustration.
on example 1 can you explain why is it we have the AA Of 40000 in 2022/2023 and also have an unused AA of (40000-25000)
literally confused about the same thing
Hi, I asked this in the AskTheTutor forum and it appears that the years given may be incorrect.
https://opentuition.com/topic/tx-lecture-chapter-10-example-1/
I think in each year we have an AA of 40000 to claim. If we didn’t claim them in the same year, that will be b/f to next year. Like in 2021/22 the contributions made were only 30000 but we have 40000 and from that 10000 is remaining. likewise in the year the person has contributed only to a 25000 so he has another 15000 from the previous year