In 2020, Mohamed receives the following income:Employment income of £80,000Bank interest of £20,000 net of 20% tax suffered at source9,000 net of 10% tax suffered at sourceWhat is Mohamed's taxable income for 2019, note that the personal allowance is £10,600,Dividends of £

The final amount of income over which the tax rate is charged for the tax liability is known as…

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What is Mohamed's taxable income for 2019, note that the personal allowance is £10,600,

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 24CE

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Question

In 2020, Mohamed receives the following income:
Employment income of £
80,000
Bank interest of £
20,000 net of 20% tax suffered at source
9,000 net of 10% tax suffered at source
What is Mohamed's taxable income for 2019, note that the personal allowance is £10,600,
Dividends of £

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