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Is the answer to this question in the lecture notes correct, because I am not getting the same income tax liability as stated in the answer.
The answer show a Tax Payable of 7768 pounds, whereas I am getting an answer of 8118 pounds.
Income tax $ % =
Taxable income 167,000
NSI basic rate 41,700 20% 8,340
NSI higher rate 95,300 40% 38,120
DI nil rate 2,000 0% 0
Di higher rate 15,000 33.75% 5,063
DI additional rate 13,000 39.35% 5,116
Tax liability 56,638
PAYE (48,520)
Tax Payable 8,118This is My answer, the only difference between the 2 answers is that the income tax liability calculated is 56,288 pounds in the lecture notes.
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