Hi,
I want to ask one question regarding Income tax computation.
In the Practice & Revision Kit, exercise number 119 says:
"During the 22/23 tax year, Petula paid interest of 140 GBP on a personal loan taken out on 6 April 2022 to purchase a computer for sole use in her employment with Downtown plc."
Why is 140GBP deducted from savings income, and not from non-savings income?
Thank you in advance,
Nina
ACCA Forums
TXINCOME TAX COMPUTATION
Please see answer here, for original poster or anyone else coming across this thread-
https://opentuition.com/topic/income-tax-computation-12/is
Hi,
i have a question on UK- TAX F6.
In the tax year 2023/24, Susie receives an employment income of £170,000. She made a gross gift aid donation of £10,000 in January 2024.
What is Susie’s income tax liability for the tax year 2023/24?
nsolanki, no personal allowance will be available.
Also the basic rate bands and higher rate bands will be increased by £10000.
You should be able to make the relevant calculation now. If you need any further help please ask.
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