Paul has total income of 54,160 in 2021-22, none of which is derived from savings or from

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Paul has total income of £54,160 in 2021-22, none of which is derived from savings or from dividends. During the year he pays gross eligible interest of £1,600. Show his income tax computation:

(a) with the interest payment

(b) as it would be without the interest payment. How much has the interest effectively cost him?

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Taxation Finance Act 2021

ISBN: 9781292406725

27th Edition

Authors: Alan Melville

Question Posted: Jan 31, 2024 02:01 AM

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Paul has total income of 54,160 in 2021-22, none of which is derived from savings or from

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Income tax calculation can look a bit daunting but its mainly about breaking the income down into di...View the full answer

Taxation Finance Act 2021

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