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Good Day sir
1) For example 4 of the study guide the question on “Molly” i did my calculations and realized a tax liability of 600 GBP however the answer to this question in the study guide shows 880 i really don’t understand how the 880 GBP was arrived at; so please for a guide on how this was gotten?
2)The same goes for example 5 “POLLY” the answer i got is 2 800 GBP but the answer guide shows 2 600 GBP I would like to know how this figure was arrived at?Thanks
These are typing / updating errors that I thought had been updated on the site as clearly the totals are wrong as the correct individual figures which you should have do not add up to those figures!
Ok thanks very much Sir
Again sir i just noted that the text did not take into consideration taxes deducted at source like 20% tax on bank interest and 10% tax on Dividend income. Please sir is it the change in syllabus which affects taxes deducted at source or a typing/updating error
Thanks sirITS OK SIR I JUST READ THROUGH FA 2016 EXAMINERS ARTICLE AND I NOW KNOW WHAT IS HAPPENING
THANKS SIRQ.7 page 9 of opentution notes .
Recalculate Daisy’s income tax payable, assuming Daisy received a salary of 36,000 (PAYE 5,705), bank deposit interest of 12,000 and dividend income of 2000.
In the solution back there the tax calculation of savings is done as follows-
500@0%. 0
6500@20%. 1300
5000@40%. 2000Sir can you explain me how the figures 6500 and 5000 derived ,bcz after deducting 500 balance is of 11500,and in the eg 2 pg8 where the salary was 10000,we calculated tax as 1000@0% =0
,9000@20% =1800.
So why not same calculated in this example the same way
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