Marys income for tax year 2023-24 consists of business profits of 26,930, dividends received of 124,460 and
Question:
Mary’s income for tax year 2023-24 consists of business profits of £26,930, dividends received of £124,460 and rents received of £3,750. She is not a Scottish taxpayer and her personal allowance for the year is £nil. Calculate Mary’s income tax liability for 2023-24, assuming that the rents received are not within the “rent-a-room” scheme.
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To calculate Marys income tax liability for the tax year 202324 we need to consider the tax rates an...View the full answer
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