Kate a single person, has the following income, outgoing and allowances for the year ended 5 April 2010.
| £ |
Salary Taxed investment income: Bank interest (net) Building society interest (net) Rents from UK unfurnished lettings Personal Allowance Allowable interest payments Dividend received | 38930 3200 4800 1890 6475 2160 900 |
Required:
Calculate the income tax payable for 2009/10.
Solution
Kate
Income tax computation 2009/10
| Total Income £ | Other Income £ | Savings Income £ | Dividend Income £ |
Employment income Interest £(4000+6000) Property income UK dividend Total income Less: Interest payment Net income Less: Personal Allowance Taxable income | 38930 10000 1890 1000 51820 (2160) 49660 (6475) 43185 | 38930 1890 40820 (2160) 38660 (6475) 32185 | 10000 10000 10000 10000 | 1000 1000 1000 1000 |
Income tax | | £ |
On other income On savings income at basic rate At higher rate On dividend income Income tax liability Less: Tax credit on dividend Tax suffered on interest (800+1200) Income tax payable | 32185 @ 20% 5215 @ 20% 4785 @ 40% 1000 @ 32.5% | 6437 1043 1914 325 9719 (100) (2000) 7619 |
No comments:
Post a Comment