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suppose our non saving income is 40000
savings income is 5700here i hv a doubt bcoz i am a higher rate taxper i hv snrb of 500
now when calculating tax laibility in brb for fitting the nsi and si shld i deduct the 500 snrb ?
for nsi brb is it striaght 37700*20% or 37700-500(being used by snrb)*20%?
I assume that the figures you have given are AFTER the PA? Please make it clear in future.
NSI of £40,000:
£37,700 x 20%
£2,300 x 40%SI of £5,700:
£500 x 0%
£5,200 x 40%A word of advice – your basic knowledge on lots of areas seems to be weak. Instead of working through questions (which you don’t seem to be ready for), go back to your tuition materials to work on and strengthen your basic understanding.
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