Question
Bob lives in the UK, but works in both Germany and in the UK. In 2019 he earned 40,000 euros in Germany, and 30,000 euros
Bob lives in the UK, but works in both Germany and in the UK. In 2019 he earned 40,000 euros in Germany, and 30,000 euros in the UK. In Germany the income tax rate is 45%.
2.1. How much tax would be due from Bob in the UK on his annual income for 2019 if the UK income tax rate was 20% and any double taxation would be eliminated using ordinary credit?
2.2. How much tax would be due from Bob in the UK on his annual income for 2019 if the UK income tax rate was 50% and any double taxation would be eliminated using ordinary credit?
2.3. How much tax would be due from Bob in the UK on his annual income for 2019 if the UK income tax rate was 20% for income up to 40,000 euros and 30% for income above 40,000 euros, and any double taxation would be eliminated using exemption with progression?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started