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Harry made gift aid donations to the NSPCC Of £500 in the tax year 2019-20. This is the cash amount paid. His only income is employment income of £48000. What is his income tax liability for the tax year 2019-20?
A £13575
B £ 8700
C £ 8600
D£ 8575
Correct answer is D
From net income you will substract personal allowance: 48000-12500= 35500
For gift aid donation : 500*100/80= 625
Basic band rate will be extended by:37500+ 625= 38125
35500*20%= 7100 ——> my answer
Please help me, where am I going wrong with calculation
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