4-Salim's total income of £20,000, which does not include savings or dividend income. He made the interest payments totaling to £2,000 on a loan to invest in a partnership in which he is a partner in the tax year 2019/20. As per the UK tax laws what will be the Salim's tax liability in the tax year 2019/20? a. £18,000 b. £1,200 c. £1,500 d. None of the options
4-Salim's total income of £20,000, which does not include savings or dividend income. He made the interest payments totaling to £2,000 on a loan to invest in a partnership in which he is a partner in the tax year 2019/20. As per the UK tax laws what will be the Salim's tax liability in the tax year 2019/20? a. £18,000 b. £1,200 c. £1,500 d. None of the options
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 47P
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4-Salim's total income of £20,000, which does not include savings or dividend income. He made the interest payments totaling to £2,000 on a loan to invest in a partnership in which he is a partner in the tax year 2019/20. As per the UK tax laws what will be the Salim's tax liability in the tax year 2019/20?
a. £18,000
b. £1,200
c. £1,500
d. None of the options
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