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Guys, please clarify why there’s no tax liability as per below answer??? Per my cacl. it should be 1 967.
ANSWER
Nui will not have to pay any income tax for 2012?13 as the gross dividends of
£27,778 (25,000 × 100/90) fall within the basic rate tax band.——————–
MY CALCULATIONSdividend 27 778
total income 27 778
less PA -8 105
taxable income 19 673
dividend 1 967
tax liability 1 967is it correct to present it in this way at the exam ?dividend 27 778
total income 27 778
less PA -8 105
taxable income 19 673
dividend 1 967
tax liability 1 967
Less:
Tax deducted at source: -2 778
tax liability nil
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