Thank you for these excellent lectures. In Example 5, should the taxable income from Saving Income of £1,000 @ 0% arise from the Nil rate instead of the starting rate? Because the Non-saving taxable income exceeds £5,000(i.e.£6,930), and the Non-saving taxable income is subject to a basic rate?
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In Example 6, for the Savings Income after the NRB of 500 was taxed at 0%, why was the remainder of 13000-500 was not all taxed at 20%? That's the part that's confusing.
because part of it goes into the high rate band: 24930 + 500 + part of the 12500 = 37700, this makes up the basic band rate that is taxed @ 20%. The remaining part (12500 - 12270 = 230) which is in excess of 37700 is in the high band rate and so it is taxed @40%.
wow , that is perfect -- updated version🤓
Updated version nice
Only wish if all the remaining updated lectures are in order
Always check the website for all videos (in order)
@@opentuition will do
Thanks 🙏
Thank you for these excellent lectures.
In Example 5, should the taxable income from Saving Income of £1,000 @ 0% arise from the Nil rate instead of the starting rate? Because the Non-saving taxable income exceeds £5,000(i.e.£6,930), and the Non-saving taxable income is subject to a basic rate?
Our tutors do not monitor posts made on TH-cam, so if you want our TX tutor to answer you please ask in the free Ask the Tutor Forum on our free website. Our tutors always answer questions posted on our Ask the Tutor Forums :-)
yes think the lecturer should have put nil rate (although same calc)
In Example 6, for the Savings Income after the NRB of 500 was taxed at 0%, why was the remainder of 13000-500 was not all taxed at 20%? That's the part that's confusing.
because part of it goes into the high rate band:
24930 + 500 + part of the 12500 = 37700, this makes up the basic band rate that is taxed @ 20%. The remaining part (12500 - 12270 = 230) which is in excess of 37700 is in the high band rate and so it is taxed @40%.
@@johnkangomumba1719 Thanks