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Personal Allowance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Personal Allowance

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by vm21.
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  • November 7, 2016 at 11:21 pm #347954
    vm21
    Member
    • Topics: 4
    • Replies: 3
    • ☆

    I attempted the March/June 2016 past paper question 2 (on income tax), and noticed that the personal allowance was $10,000 rather than $10,600. Can someone please explain why. I know that the personal allowance for 2014/2015 was $10,000, could it be that the solution is not updated?

    November 8, 2016 at 12:46 am #347959
    maryemb
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    The personal allowance changes each year. The $10,600 is what applies for the current year.

    November 8, 2016 at 1:18 am #347961
    vm21
    Member
    • Topics: 4
    • Replies: 3
    • ☆

    Thanks

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