Jane received bank interest of £3000 during the tax year 2020/21. Requirement: Calculate Jane’s Income tax liability assuming she also had employment income £29,000 in the tax year 2020/21
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Jane received bank interest of £3000 during the tax year 2020/21.
Requirement: Calculate Jane’s Income tax liability assuming she also had employment income £29,000 in the tax year 2020/21
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- Marlene, a cash basis taxpayer, invests in Series EE U.S. government savings bonds and bank certificates of deposit (CDs). Determine the tax consequences of the following on her 2019 gross income: a. On September 30, 2019, she cashed in Series EE bonds for 10,000. She purchased the bonds in 2009 for 7,090. The yield to maturity on the bonds was 3.5%. b. On July 1, 2018, she purchased a CD for 10,000. The CD matures on June 30, 2020, and will pay 10,816, thus yielding a 4% annual return. c. On July 1, 2019, she purchased a CD for 10,000. The maturity date on the CD was June 30, 2020, when Marlene would receive 10,300.Jamila received Employment Income of £29,000 and bank interest of £3,000 during the tax year 2020/21. Calculate Jamila's income tax liability for the tax year 2020/21.Jamie received employment income (PAYE £26300) of £25000 and bank interest £3350 during the tax year 2019/20. Requirement: Calculate Jamie’s income tax payable for the year 2019/20.
- For the tax year 2023/24 Jane has employment income of £47,570, savings income of £1758 and dividends of £3588. What is her tax liability for the year? Enter a whole number, without the £ sign, in the response box.Jacob earned employment income of £34250 and receive dividends of £17500 outside of an ISA in the tax year 2019/20. PAYE of £3680 was paid in respect of employment income. Requirement: Calculate Jacob’s tax liability for tax year 2019/20.Edward Bridgewater has adjusted net income of £101,300 for the tax year 2020/21. Edward is 29 years old and is married to Rahma Bridgewater. Rahma is 30 years old; her adjusted net income for the tax year 2020/21 was £119,200. What is Edward Bridgewater’s personal allowance for the tax year 2020/21? £11,850 £13,150 £0 £11,200
- Mr. Roly received savings income of £7,500 and dividend income of £17,500 during 2019-20. He had an employment income of £22,500. How much is his total tax liability for the tax year 2019/20? a. £ 4,462.5 b. £ 4,812.5 C. £ 4,612.5 O d. £ 4,662.5In 2020, Mohamed receives the following income: Employment income of £ 80,000 Bank interest of £ 20,000 net of 20% tax suffered at source 9,000 net of 10% tax suffered at source What is Mohamed's taxable income for 2019, note that the personal allowance is £10,600, Dividends of £Peter earned employment income of £14,850 and received dividends of £4,500 in the tax year 2019/20. PAYE of £ 600 was deducted in respect of the employment income. Calculate tax payable for 2019/20
- n the tax year 2019/20, Emmanuel receives an employment income of £180,000 from ABC Ltd. He made a gross gift aid donation of £10,000 in February 2020. What is Emmanuel’s income tax liability for the tax year 2019-20?Marco Leopizzi earns £45,000 in tax year 2021-22. He also received bonus of £20,000 in a year, house allowance £10,000, conveyance allowance £2,000. His income from property is £20,000 His spouse was born before 6 April 1935. He takes the advantage of married couple allowance (MCA) and is also eligible for marriage allowance. Keeping in view above set of information, please calculate his amount of tax paid for year 2021-2022.Mikhail Rivers is a self-employed corporate tax consultant. Mikhail’s business, Rivers’s Tax Consultancy, prepares financial statements to an accounting date of 31 March each year. During the year ended 31 March 2021, Mikhail’s tax adjusted trading profit was £34,120. What is the total amount of National Insurance contributions payable by Mikhail for the contribution period 2020/21? A. £158.60 B. £3,070.80 C. £2,374.40 D. £0. Mikhail will not be required to make any National Insurance contributions
