Esm receives dividends of 15,150 in tax year 2020-21 and has no other income for tax purposes.

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Esmé receives dividends of £15,150 in tax year 2020-21 and has no other income for tax purposes. She makes a gross deductible payment of £100 during the year. Calculate her income tax liability for 2020-21:

(a) with the deductible payment

(b) as it would have been without the payment.

How would the situation differ if her dividend income had been £1,000 lower?

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 10, 2024 01:02 AM

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Esm receives dividends of 15,150 in tax year 2020-21 and has no other income for tax purposes.

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Dividends received Less Payment Net income Less Personal allowance Taxabl...View the full answer

Taxation Finance Act 2020

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