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Example 7 of chapter 2 in notes

This topic has 1 reply, 2 voices, and was last updated 2 years ago by Tax Tutor.

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June 21, 2022 at 9:54 pm #659086
saede
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I don’t understand the answer for the savings income
I think it is not correct.
Why should we use two rates for 13000 when we can only use 20percent rate
How the number 230 is created?!
I appreciate your time
Great regards
June 26, 2022 at 1:12 pm #659337
Tax Tutor
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Not sure if you have used the accompanying lecture (?) but £230 of the savings income is now in the higher rate band and therefore is to be taxed at 40%
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