Calculate the 2020-21 income tax liability of a non-Scottish taxpayer with income for the year as follows:
Question:
Calculate the 2020-21 income tax liability of a non-Scottish taxpayer with income for the year as follows:
(a) Business profits of £28,105 and bank interest of £720.
(b) Business profits £50,150, building society interest £930 and bank interest £570.
(c) Net loan interest of £130,604.
Assume a personal allowance of £12,500 in cases (a) and (b) and £nil in case (c). How would these liabilities differ in the case of Scottish taxpayers?
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