Income tax computation (part 3) - ACCA Taxation (FA 2022) TX-UK lectures

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There was so much dread when I saw how large the taxation books were. These lectures help so much with understanding. Thank you very much

MoonPie
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Very clear explanation. Thanks for the lecture!

dpurnimaa
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Thank you so much! We really appreciate it mam. God bless you and your family. And everyone who is involved in this amazing tutoring sessions

fatimaalbraiki
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Hi, thank you for your clear explanation. I came here because my text book was confusing. Your calculation for non savings income is what i expected but my text does it differently and give a different answer.

For calculating savings income, they say to add the savings income to the gross non savings income rather than to the net adjusted non savings income to see which bracket the savings income will be calculated on. This is only to check the bracket and is after you have already done the total income minus the personal allowance and other deductions.

This is a big difference as in some situations using the gross non savings income and savings income will put you in the higher bracket

While using the adjusted net non savings income and savings income might put you in the basic bracket and therefore adjust the percentage used to calculate the tax on the savings income.

Sorry that is long but i hope it makes sense.

Any thoughts?

helixerrah
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The working of example 6 ( the example that has Daisy), if possible, i would like to know how the 230GBP came about. Thank you for the lecture

DianaRose-ynux
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first of all I say Thanks for your lecture but I have a question on tax computation exercise why deduct on saving GBP 5000 another exercise deduct GBP 1000 please give me detail explanation. Thanks

sofia-gqc