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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › marginal rate of tax
Q- Matt’s net income for the tax year 2022-2023 was 116000.
what is the highest effective marginal rate of income tax that matt will suffer in the tax year 2022-2023?
a- 40%
b-45%
c-50%
d-60%
————doubt————
the answer is d but I’m not understanding the explanation. well the first half i got it that the income is in 40% tax rate. but i’m not understanding how the reduction of personal allowance will increase the marginal rate of income tax.
please if possible explain it by calculation.
thankyou
This is just one question – please dont worry about marginal rates – its not an actual rate.
I dont even teach it