Rose is single and has total income of 12,300 in 2021-22. She makes a gross deductible payment
Question:
Rose is single and has total income of £12,300 in 2021-22. She makes a gross deductible payment of £25 during the year. Show her income tax computation for the year and determine the amount of tax relief given in relation to the payment.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Given Roses income of 12300 in the 202122 tax year the first thing we need to do is determine which ...View the full answer
Answered By
Junaid ahmed
I am an English language professor with years of experience In Teaching English Language and Literature. I like to help people in the various difficult matter.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Carmin Kovach is single and has two children from her previous marriage. Anika, 9, lives with Carmin. Julius, 11, lives with his father, Ray. Carmin pays alimony of $400 per month to Ray. The...
-
1. Use the following information to complete Ginger Snaps 2019 tax return. If information is missing, use reasonable assumptions to fill in the gaps. 2. You will need the following forms and...
-
Paige Turner is single and has two children from her previous marriage. Ali lives with Paige, and Paige provides more than half of her support. Leif lives with his father, Will (Lief lived with Will...
-
What is the Antebellum Interregional growth hypothesis?
-
Let X be the first time that a failure occurs in an infinite sequence of Bernoulli trials with probability p for success. Let pk = P(X = k) for k = 1, 2, . . . . Show that pk = pk1q where q = 1 p....
-
For the four clusters identified in Example 10.6, find the average and standard deviations of each numerical variable for the schools in each cluster and compare them with the averages and standard...
-
Finding Probabilities Use the probability distribution you made for Exercise 28 to find the probability of randomly selecting a World Series that consisted of (a) four games, (b) at least five games,...
-
Discussion Problem: The Margo Manufacturing Company is performing an annual evaluation of one of its suppliers, the Mimi Company. Bo, purchasing manager of the Margo Manufacturing Company, has...
-
12 (Time allowance estimation: 7 minutes) You can invest in a bank account that has an APR of 12%. You want to make equal monthly deposits of $2,000 for the next 9 years. How much will you have...
-
At what rate of income tax is each of the following types of payment relieved in tax year 2021-22? (a) interest on a qualifying home loan used to buy an annuity (b) interest on a loan used to buy an...
-
Paul has total income of 54,160 in 2021-22, 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)...
-
In your opinion, what is the single most important component of building relationships within a project team? Why?
-
Assume that John wants to annuitize the annuity and is told that he can receive a straight life annuity for $600 a month for life. If the actuarial number of payments is 300, how much of the first...
-
An epidemiologist plans to conduct a survey to estimate the percentage of women who give birth. How many women must be surveyed in order to be 90% confident that the estimated percentage is in error...
-
Your homework for this week is to watch the first lecture on Financial Accounting and at the end of the outline there are several problems for you to do. The problems begin with parts A-D for you to...
-
Sheril Rose was a brilliant but penniless material scientist. She had designed a new type of solar panel she believed had great commercial potential. On January 15, she approached Felda Higgins, a...
-
IAS 23 requires companies to capitalize borrowing costs directly attributable to the acquisition, construction or production of an asset into the cost of an asset.Previously, accounting standard...
-
The file BBcost2011 contains the total cost (in $) for four tickets, two beers, four soft drinks, four hot dogs, two game programs, two baseball caps, and parking for one vehicle at each of the 30...
-
Identify one local business that uses a perpetual inventory system and another that uses a periodic system. Interview an individual in each organization who is familiar with the inventory system and...
-
The Managing Director of Wraymand plc has asked you to prepare the statement of comprehensive income for the group. The company has one subsidiary undertaking, Blonk Ltd. The statements of...
-
FF Ltd acquired 80% of the ordinary share capital of GG Ltd on 1 April 2016. On that date, the retained earnings of GG Ltd were 18,260. There are no preference shares. The statements of comprehensive...
-
PP Ltd acquired 65% of the ordinary share capital of QQ Ltd on 1 January 2019. There are no preference shares. The statements of comprehensive income of the two companies for the year to 31 December...
-
Nitin is paid a base salary of $200 per week and commission at the rate of 3% for sales over $5000, 4% if his sales are over $8000, and 5% if sales are over $15,000. How much will Nitin earn in a...
-
Safa is paid a base salary of $1500 per month and a commission of 6% on all sales over $75,000. Last month, Safa's gross salary was $4440. What were her sales for the month? a$149,000 b$124,000...
-
Your regular hourly rate of pay is $15.86, and you are paid double time for all work on weekends and for any time over forty hours per week (Monday to Friday). Calculate your gross earnings for a...
Study smarter with the SolutionInn App