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Income Tax Computable Example one

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Income Tax Computable Example one

  • This topic has 0 replies, 1 voice, and was last updated 10 years ago by Avatarbose12.
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  • January 14, 2016 at 4:33 pm #294536
    Avatarbose12
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    • Topics: 5
    • Replies: 82
    • ☆☆

    hello,

    Basically, fast forwarding to 38 minutes on example 1 video, when calculating non savings income, do we have to use the basic rate all the time like its done in the example if the taxable income exceeds the basic rate.

    for example, if the taxable income was to be 150500 will I calculate as:

    basic rate – 31865 X 20% = 6373
    additional rate – 144127 X 45% = 64857.15

    Thank you

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