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During 2017/18 Morgan receives a salary of £7,000 and dividend income of £40,000. How much is her income tax liability?
Answer: £2,675
Please explain me the how to get the answer
Firstly calculate the total income which is 47000 and then deduct the PA i:e 11500 from both respectively then we get 35500 then use tax rate to calculate the dividend rate and we get the answer.
@bhola1679 said:
Firstly calculate the total income which is 47000 and then deduct the PA i:e 11500 from both respectively then we get 35500 then use tax rate to calculate the dividend rate and we get the answer.
Viewing 4 posts - 1 through 4 (of 4 total)
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