In 2023-24, Philippa has business profits of 10,000. She also receives bank interest of 3,450 and net

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In 2023-24, Philippa has business profits of £10,000. She also receives bank interest of £3,450 and net loan interest of

£36,680. Her personal allowance is £12,570 and she makes no Gift Aid donations or pension contributions during 2023-24.

Calculate the income tax payable by Philippa for the year. Does it matter whether or not she is a Scottish taxpayer?

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 02, 2024 02:01 AM

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In 2023-24, Philippa has business profits of 10,000. She also receives bank interest of 3,450 and net

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Notes i Taxable income does not include any nonsavings inco...View the full answer

Taxation Finance Act 2023

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