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Today, i appeared for ACCA F6 exam. I got income tax question in section C where examiner had give a question. A person named Albert receives Pention Income of £70,000. Can anyone confirm how we treat Pention Income in Income Tax Computation? I want to confirm. Thanks in Advance
Firstly, its – pension not pention
Secondly, the exam is over and there’s nothing you can do now.
Thirdly, pension INCOME is treated as income in the IT comp and added to other income and taxed accordingly.So it must be under Non-Saving? Just for the knowledge i want to know. Thank you
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