- This topic has 1 reply, 2 voices, and was last updated 10 years ago by
.
- Posts
1. why child benefit tax charge is added on income tax liability? isn’t a child benefit charge is the amount we are suppose to get back from government?
2. what is meant by qualifying interest payments?
3. i didnt understand the exempt income ‘interest from national savings and investments and income received from a NISA.. please explain these two exempt incomes.
1 The child benefit is what is provided by the government to the taxpayer. The child benefit charge is removing this benefit from those taxpayers who have income in excess of £50,000
2. These are listed on page 13 of the course notes and are the few examples of loan interest that are tax deductible
3. Nothing here to “understand” – they are exempt sources of income and need to be “learnt” and simply stated as being exempt in your exam answer
- You must be logged in to reply to this topic.