Calculate the personal savings allowance available in 2020-21 to a taxpayer with taxable income for the year
Question:
Calculate the personal savings allowance available in 2020-21 to a taxpayer with taxable income for the year (i.e. net income less any available personal allowance) of:
(a) £20,000
(b) £37,501
(c) £63,000
(d) £375,000
Assume that there are no Gift Aid donations or pension contributions during the year.
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Step by Step Answer:
a Taxable income does not exceed 37500 therefore the PSA is 1000 b T...View the full answer
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Mehwish Aziz
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