Hello In section 7 of ch. 2 is jointly owned assets. it mentioned the rules allow couples to rearrange the joint income / ownership. May I know the taxpayer can rearrange the % of ownership of each tax year? say, 2021/22 is 40:60 and 2022/23 is 30:70 ?

In section 2.5 video on example 15, the last few mins you mention that if it’s higher rate tax you only extend the basic rate limit by the gross gift aid value however in the example 15, it’s a higher tax rate but the rate’s were extended on both basic and higher rate’s?

Hi, In lecture video 2.5, example 14, must we always deduct the charity under gift aid system from the net income to access whether PA would be NIL or restricted?

In a case where the Net income is 128,000 and the gross amount to charity is 8,000, which makes the ANI (128K-120K)= 120,000 would the PA be restricted to (12570-10000)= 2,570? And what would be the figure of the net income in the Tax computation? Would it be 128,000 or 120,000?

Like this… Net Income 128,000 Less gross amt to charity (8,000) ANI 120,000 PA. (2570) Taxable Income. 117,430

Or the deduction of the amount paid to charity won’t be reflected in the computation like the way it was in example 14

Like this… Total Income 128,000 PA. (2570) Taxable Income. 125,430

I have just watched all these lectures, thank you so much, they are very helpful. Everything is explained very well, I understand this subject a lot better now

aahyan says

Hello

In section 7 of ch. 2 is jointly owned assets. it mentioned the rules allow couples to rearrange the joint income / ownership. May I know the taxpayer can rearrange the % of ownership of each tax year?

say, 2021/22 is 40:60 and 2022/23 is 30:70 ?

Brian998 says

Thank you very much

jordanho94 says

Hi,

In section 2.5 video on example 15, the last few mins you mention that if it’s higher rate tax you only extend the basic rate limit by the gross gift aid value however in the example 15, it’s a higher tax rate but the rate’s were extended on both basic and higher rate’s?

sumayyahchowdhury says

thank you helped so much!

Abriks says

Hi,

In lecture video 2.5, example 14, must we always deduct the charity under gift aid system from the net income to access whether PA would be NIL or restricted?

In a case where the Net income is 128,000 and the gross amount to charity is 8,000, which makes the ANI (128K-120K)= 120,000

would the PA be restricted to (12570-10000)= 2,570? And what would be the figure of the net income in the Tax computation? Would it be 128,000 or 120,000?

Like this…

Net Income 128,000

Less gross amt to charity (8,000)

ANI 120,000

PA. (2570)

Taxable Income. 117,430

Or the deduction of the amount paid to charity won’t be reflected in the computation like the way it was in example 14

Like this…

Total Income 128,000

PA. (2570)

Taxable Income. 125,430

GLitchy says

Your example will be similar to that in Example 14. Your personal allowance calculation is correct so the taxable income would be 125,430.

rushdy says

Thank you !! I go to a “Premium Provider” for this paper to keep me disciplined. However, I understand the information through this platform!

OlakunleFoly says

This is TX-UK made simple. I love the presenter and his gestures, interesting to follow

liz.cush says

I have just watched all these lectures, thank you so much, they are very helpful. Everything is explained very well, I understand this subject a lot better now

luvvy says

This is so helpful, thank you soo very much for this.

kirti.mishra says

Hello,

on page 170, for example 2 in chapter 2, the total tax liability is 4,786 and not 4,796 as shown.

Regards,

Kirti

Ndianabasi says

This is very detailed and easy to follow. Thank you for this, I deeply appreciate.