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Ask the Tutor ACCA TX-UK

ISA

Aagnes6y ago
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?
Aagnes6y ago#1
is the full 32000 chargeable or only the excess of 12000 to be included in net income?
TTTax Tutor6y ago#2
You can ONLY invest 20,000 in an ISA - you cannot invest 32,000
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