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ACCA Finance 2015 / Income tax / Example 1

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › ACCA Finance 2015 / Income tax / Example 1

  • This topic has 3 replies, 2 voices, and was last updated 8 years ago by Tax Tutor.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • July 24, 2016 at 9:22 am #328585
    jajum
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    I will appreciate it if you explain how the breakdown below came about

    Income tax :

    28000 @ 20% – 5600

    3785 @ 10% – 378

    6215 @ 32.5% – 2020

    July 27, 2016 at 12:33 pm #329858
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Can you please be more precise about which example you are querying in the OT notes

    July 27, 2016 at 7:18 pm #329897
    jajum
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    The example I refer to, can be found in the ACCA Technical article titled Finance Act 2015
    Example 1

    I await your advice

    Thanks

    July 28, 2016 at 9:58 am #329966
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Have you actually worked through the OT course notes and lectures – for this example chapter 2 – before reading the ACCA article, as this should be a very easy example then to answer?! The technical article should only be read in sections as stated at the end of the relevant OT chapters.
    It would be better and easier to follow the answer if of course you use the method of presentation in our notes where we put in the analysis columns for non savings income, savings income and dividend income and show the PA being deducted firstly from the non savings income so as to establish the precise make up of the taxable income figure.

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