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Tax Tutor.
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jean989
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Dear Sir,
Could you please explain me this question on self assessment
20 Based on her income tax liability of £15,600 for the tax year 2018/19, Sarah was liable to make two
payments on account for the tax year 2019/20 of £7,800 each.
In May 2020, Sarah made a claim to reduce her second payment on account to £6,000. This reduced
payment was made on 30 September 2020.
Sarah’s actual income tax liability for the tax year 2019/20 was £16,000, and she paid the full balance
outstanding on 31 January 2020.
How much interest is payable by Sarah to HM Revenue & Customs (HMRC) in respect of her second
payment on account for the tax year 2019/20?
? £61
? £42
? £29
? £32did not understand the answer
Tax Tutor
- Topics: 2
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Please show me what in the correct answer you did not understand – I assume an explanation of the correct answer was provided
jean989
Tax Tutor
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