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ISA

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › ISA

  • This topic has 2 replies, 2 voices, and was last updated 5 years ago by Tax Tutor.
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  • September 6, 2020 at 9:05 am #583637
    agnes222
    Member
    • Topics: 45
    • Replies: 17
    • ☆☆

    sir if ISA amount over 20000( say 32000) is given then what do we do if we are asked to find net income for 19/20?

    September 6, 2020 at 9:09 am #583638
    agnes222
    Member
    • Topics: 45
    • Replies: 17
    • ☆☆

    is the full 32000 chargeable or only the excess of 12000 to be included in net income?

    September 10, 2020 at 11:39 am #584661
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    You can ONLY invest 20,000 in an ISA – you cannot invest 32,000

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