Paul has total income of 53,890 in 2020-21, none of which is derived from savings or from
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Paul has total income of £53,890 in 2020-21, none of which is derived from savings or from dividends. During the year he pays gross eligible interest of £1,600. Show his income tax computation:
(a) with the interest payment
(b) as it would be without the interest payment.
How much has the interest effectively cost him?
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For part a and b Total income Less Interest paid Net income Less Person...View the full answer
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