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Reliefs and Payments to charity under Gift Aid System Example 15

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Reliefs and Payments to charity under Gift Aid System Example 15

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by jonathanforstudying.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • January 7, 2017 at 4:51 am #365378
    jonathanforstudying
    Member
    • Topics: 16
    • Replies: 14
    • ☆

    I don’t get it, why must Kerry’s Dividends be calculated by
    3,000/94,400 × 32.5% = 975

    I got it at 3000@37.5%

    Kindly advise thank you!

    January 9, 2017 at 8:46 am #365751
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Look again at the answer – the calculation is 3,000 x 32.5% = 975

    The 94,400 is simply the total taxable income! Just add down that column.

    The dividend income is NOT to be taxed at 37.5% as it falls within the higher rate band not the additional rate band

    January 26, 2017 at 5:32 am #369598
    jonathanforstudying
    Member
    • Topics: 16
    • Replies: 14
    • ☆

    Thank you Sir 🙂

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