Rose is single and has total income of 12,200 in 2020-21. She makes a gross deductible payment
Question:
Rose is single and has total income of £12,200 in 2020-21. 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: 0% (2 reviews)
Roses net income is 12175 12200 25 This is less than her personal allowance ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
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...
-
Rose is single and has total income of 11,250 in 2017-18. She makes a gross deductible payment of 25 during th e year. Show her income tax computation for the year and determine the amount of tax...
-
Venator fund has a 5% front load. The fund had 13.1% return over the last 5 years. What is the actual annual return for investor invested in the fund for 5 years?
-
Grass grows densely everywhere on a quarter-acre plot of land. What is the order of magnitude of the number of blades of grass on this plot? Explain your reasoning. Note that 1 acre = 43 560 ft2.
-
The electric bells at your school buzz with a frequency of \(400 \mathrm{~Hz}\). If you are late for class and riding your bike down a hill toward the school at a constant speed of \(4.47 \mathrm{~m}...
-
A used car dealer sold an automobile to a customer (Robert) on an installment basis. The installment sales contract calls for Robert to make monthly payments of principal and interest. The contract...
-
Telephone inquiries of 100 IRS customers are monitored daily at random. Incidents of incorrect information or other non-conformities (such as impoliteness to customers) are recorded. The data for...
-
25 25 A piece of wire of resistance R is cut into three equal parts. These parts are then connected in parallel. If the equivalent resistance of this parallel combination is R, what is the value of...
-
At what rate of income tax is each of the following types of payment relieved in tax year 2020-21? (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 53,890 in 2020-21, 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)...
-
If Britney Cozart invests $4,765.50 now and she will receive $12,000 at the end of 12 years, what annual rate of interest will Britney earn on her investment?
-
Your basketball team has two coaches, Coach Mike and Coach Brian. Coach Mike decides the lineup for 60% of the games, and Coach Brian decides the lineup for 40% of the time. You love playing point...
-
53. A taxpayer collected the following passive income during the year: Passive income Interest income from banks P300,000 Royalties from books Philippines Rent properties 200,000 400,000 Abroad...
-
Ms. Alice has reached out to you, seeking advice and further feedback regarding her plan to invest in the stocks of 3 different companies in IDX. These have been labeled as Stock A, Stock B, and...
-
You have been hired to organize a semi-formal dinner for the closing reception of a conference on the topic of Saving our Oceans held at the Vancouver Aquarium. 50 professionals from the conference...
-
Kuat LLC issued a $100,000, 10%, 5 year bond at 100. Interest is paid annually for this bond. Use the following values AS APPLICABLE and round to the nearest dollar Present Value(PV) of 1 at 5...
-
How does the accounting for convertible debt under IAS 32 differ from the accounting prescribed by U.S. GAAP?
-
Funds are separate fiscal and accounting entities, each with its own self-balancing set of accounts. The newly established Society for Ethical Teachings maintains two funds-a general fund for...
-
The annual accounting date of Lawston plc is 31 May. The following matters need to be dealt with before the financial statements for the year to 31 May 2023 can be finalised: (a) The company is...
-
Kenistone Ltd prepares financial statements to 30 April each year. At 30 April 2023, the company is being sued by a customer who claims to have been harmed by one of the company's products. The case...
-
Hullman Ltd prepares financial statements to 31 March each year. Consider each of the following situations and determine in each case whether or not a provision should be recognised in the company's...
-
Pedro Santos is an employee who is part of a union organization or union in his employment in a public corporation of the government of Puerto Rico. The Puzzle Union won the union elections and is...
-
Can proprietary companies engage in crowd-sourced funding? If so, what compliance obligations are imposed by the Corporations Act?
-
If net income is 1 0 0 and the payout ratio is 3 5 % , what is the addition to retained earnings?
Study smarter with the SolutionInn App