Mary lives in Liverpool and has the following income and expenses for the year 2022/23 Trading...

   

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Mary lives in Liverpool and has the following income and expenses for the year 2022/23 Trading profit 25,500 Dividends 3,000 Income from property (gross) 6,000 Allowable property expenses 1,500 Required a) Calculate Mary's income tax payable by self assessment for 2022/23 b) How would this differ if her trading income was £200,000? Mary lives in Liverpool and has the following income and expenses for the year 2022/23 Trading profit 25,500 Dividends 3,000 Income from property (gross) 6,000 Allowable property expenses 1,500 Required a) Calculate Mary's income tax payable by self assessment for 2022/23 b) How would this differ if her trading income was £200,000?

Answer rating: 100% (QA)

Based on the information provided in the image Marys income and expenses for the year 202223 are as follows Trading profit 25500 Dividends 3000 Income ... View the full answer