On 1 January 2024 Iva gave £5,000 to charity under the Gift Aid scheme. His only income is an annual salary of £59,000. Identify the correct treatment of the gift. The gift reduces Iva’s income tax liability by: A £1,000 B £1,250 C £6,250 Tax relief is obtained by: d extending the basic rate band e making a deduction from employment f making deduction from total income
On 1 January 2024 Iva gave £5,000 to charity under the Gift Aid scheme. His only income is an annual salary of £59,000. Identify the correct treatment of the gift. The gift reduces Iva’s income tax liability by: A £1,000 B £1,250 C £6,250 Tax relief is obtained by: d extending the basic rate band e making a deduction from employment f making deduction from total income
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 30P
Related questions
Question
On 1 January 2024 Iva gave £5,000 to charity under the Gift Aid scheme. His
only income is an annual salary of £59,000. Identify the correct treatment of the gift.
The gift reduces Iva’s income tax liability by:
A £1,000
B £1,250
C £6,250
Tax relief is obtained by: d extending the basic rate band e making a deduction from employment f making deduction from total income
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