Calculate the 2017-18 income tax liability of a non -Scottish taxpayer with income for the year as

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Calculate the 2017-18 income tax liability of a non -Scottish taxpayer with income for the year as follows:

(a) Business profits of £27,105 and bank interest of £720.

(b) Business profits £44,150, building society interest £930 and bank interest £570.

(c) Net loan interest of £130,604.

Assume a personal allowance of £ 11,500 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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Taxation Finance Act 2017

ISBN: 9781292200804

23rd Edition

Authors: Alan Melville

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Question Posted: Feb 06, 2024 05:00 AM

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Calculate the 2017-18 income tax liability of a non -Scottish taxpayer with income for the year as

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Here is a stepbystep calculation of the income tax liability for the nonScottish taxpayer for each case The calculations are based off the personal al...View the full answer

Taxation Finance Act 2017

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