In 2023-24, Robert (who is not a Scottish taxpayer) has business profits of 40,000 and receives bank

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In 2023-24, Robert (who is not a Scottish taxpayer) has business profits of £40,000 and receives bank interest of £1,250.

His personal allowance is £12,570. Calculate Robert’s income tax liability for the year. How would this differ for a Scottish taxpayer?

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 02, 2024 02:01 AM

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In 2023-24, Robert (who is not a Scottish taxpayer) has business profits of 40,000 and receives bank

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Notes i Taxable income includes nonsavings income of more than 5000 Therefore the starting rate for ...View the full answer

Taxation Finance Act 2023

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