Ernest (who is not a Scottish taxpayer) has a retirement pension in 2020-21 of 56,890 and bank
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Ernest (who is not a Scottish taxpayer) has a retirement pension in 2020-21 of £56,890 and bank interest of £620. His personal allowance for the year is £12,500. Compute Ernest's income tax liability for the year. What difference would it make if Ernest had received dividends of £620 instead of the bank interest?
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Retirement pension Bank interest Total Total income Less Personal allowance Taxable income 56890 6...View the full answer
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