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Hello,
Please can you check if example 4 answer is correct?
I get the same taxable income but my tax liability is 8560 not 8660. I said
38500x.2
500×0
2150x.4
=8560Thanks in advance
Hi
I got the same as in the example. If you read the notes below it, it does explain why. What you haven’t taken into account is that the £500 takes up part of the basic rate allowance therefore £2650 would be at 40%.
Also in future this is more likely an ask the tutor question and so you’d be better off using the tutor forums to ensure they see them.
Hope this helps!
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