Paul has total income of 53,890 in 2020-21, none of which is derived from savings or from

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Paul has total income of £53,890 in 2020-21, 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 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 10, 2024 01:02 AM

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Paul has total income of 53,890 in 2020-21, none of which is derived from savings or from

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For part a and b Total income Less Interest paid Net income Less Person...View the full answer

Taxation Finance Act 2020

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