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Hi Sir
I am confused about contribution scheme in tax liabilities
kaplan task 9.
something the contribution is substrate from the income, sometime it is added to the basic rate band. I would like to know in which case will I substrate from the gross income and which would I treat it like a gift donation.about the same case case,
if income is 51 500expenses are 7200 and contribution 3000.
what would be the tax liabilities?
I gotincome 51500
expenses (7200)
contribution (3000)
– ————
41300
PA (9440)
________________
net 31 86031 860 *20% = 6372
I do not have the Kaplan text to which you refer, but I would suggest you read and work the examples in the OT course notes – chapter 10 Types of pension scheme and chapter 2 payments to charities under the gift aid system explains that personal pension contributions are treated in exactly the same way.
Your question suggests that you have not understood and are not recognising in a question the difference in treatment of a personal pension scheme contribution as compared to an occupational pension scheme contribution.
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