at the accrued income scheme, the notes talked about the purchaser and the difference balance which will be assessed but what about the seller since we said no CGT on disposal and that’s it ?

Let’s say the security is sold at month 5 as stated in the notes, then the seller will be pay tax for the accrued interest for the 5 months, and the buyer will pay tax for the remaining months till the tax year ends.

First of all, I would like to express my full gratitude, thanks and appreciation for the tremendous effort made by the entire team of OPENTUITION. And I would like to draw your attention that, for example # 5, I think that the answer to the question is 2800 (with all my respects to the instructor as human mistakes happens with everyone), so I kindly ask you to comment on this because it is of benefit to everyone.

a7mdsuliman says

Good day,

at the accrued income scheme, the notes talked about the purchaser and the difference balance which will be assessed but what about the seller since we said no CGT on disposal and that’s it ?

If anyone can answer me, it will be appreciated.

Thanks

Ahmed

Arsene17 says

Hey Ahmed,

Let’s say the security is sold at month 5 as stated in the notes, then the seller will be pay tax for the accrued interest for the 5 months, and the buyer will pay tax for the remaining months till the tax year ends.

My opinion!

abotaleb says

First of all, I would like to express my full gratitude, thanks and appreciation for the tremendous effort made by the entire team of OPENTUITION. And I would like to draw your attention that, for example # 5, I think that the answer to the question is 2800 (with all my respects to the instructor as human mistakes happens with everyone), so I kindly ask you to comment on this because it is of benefit to everyone.

With all my Respect & warm Regards

sayed1989 says

Agree. £200 Non -Saving Income Tax liability

Add: £2600 Saving Income Tax Liability

——-

£2800. Total Income Tax Liability

Oman1980 says

Agree, so it is shall be 2,800

jerinantony1990 says

Thank you sir for the wonderful class

sharmin says

Example 5 needs to be clarified as you have said total is 2600 but have explained the 1000 is taxed at 20% which total 2800

Dhanwanti says

I agree to the same, Example 5 needs clarification, £1000 is taxed at 0% therefore the total will be 2600 which looks right then.

mohammed31071996 says

@Dhanwanti You’re just contradicting your own statement there!