In 2017-18, Philippa has business prof its of 8,000. She also receives bank interest of 380
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In 2017-18, Philippa has business prof its of £ 8,000. She also receives bank interest of £380 and net loan interest of £36,680. Her personal allowance is £11,500 and she makes no Gift Aid donations or pension contributions during 2017-18.
Calculate the income tax payable by Philippa for the yea r. Does it matter whether or not she is a Scottish taxpayer?
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Notes i Taxable income does not include any nonsavings income Therefore the first 5000 of savings in...View the full answer
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