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Taxation (TX-UK) FA2019 Note question

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Taxation (TX-UK) FA2019 Note question

  • This topic has 2 replies, 2 voices, and was last updated 4 years ago by Tax Tutor.
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  • November 24, 2020 at 6:39 pm #596325
    ishh20
    Participant
    • Topics: 2
    • Replies: 1
    • ☆

    In the practice questions, the first question Kate, her taxable income band rate limit was increased to 40,000 because of the gift aid. Her total taxable income was 32,500 which is lower than her basic rate band limit. However her personal savings allowance was at a higher income tax band rate of 500 in the answer. Can someone explain to me why did this occur?

    November 24, 2020 at 7:31 pm #596329
    ishh20
    Participant
    • Topics: 2
    • Replies: 1
    • ☆

    My bad, she has a total taxable income of 43,000 which does make her a higher rate tax payer.

    November 25, 2020 at 12:20 pm #596395
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    No problem – glad you managed to sort it out for yourself.

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