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Mr.Vincent, a self-employed carpenter, received the following income in 2016/2017: Building society interest 3,600 Dividends from a UK company 2,700 Trading Income 60,000 He paid

Mr.Vincent, a self-employed carpenter, received the following income in 2016/2017:

Building society interest 3,600

Dividends from a UK company 2,700

Trading Income 60,000

He paid allowable interest of 2,000 on 15August 2016/2017. The following tax rates are applicable during the fiscal year.

BAND

CATEGORY

TAX RATE

OTHER INCOME

Basic rate

0 - 37,400

20%

Higher rate

37401-150,000

40%

SAVING INCOME

Starting rate

0 - 2,440

10%

Basic rate

2441-37400

20%

Higher rate

37401-150,000

40%

DIVIDEND INCOME

Starting rate and Basic rate

0 - 37,400

10%

Higher rate

37401-150,000

32.5%

Required: Calculate Abdullahs income tax liability for 2016/2017.

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