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Hi All - This is for UK!
I am currently studying personal tax - finance act 2013 and wondering if someone could help with the following questions and provide the workings :
1. In 2013/2014 a basic taxpayer as £6500 of her basic band unused. Her capital gains before annual exemption are £27300. what will her capital gains tax liability be for 2013/14
2. In the past few years a taxpayer has made the following gains/losses
2011/12 - £5100 gain after annual exemption
2012/13 - £3500 loss
2013/14 - £2800 gain after annual exemption
What will be the unrelieved loss be in 2014/15 carried forward
3. In March 2013 JJones received a dividend of £666. There annual salary is £65000 and this is the only other income. Dividends fall into the upper rate tax band
What will be the additional tax after taking into account any associated tax credit?
Thanks for your help
Rosie x
I am currently studying personal tax - finance act 2013 and wondering if someone could help with the following questions and provide the workings :
1. In 2013/2014 a basic taxpayer as £6500 of her basic band unused. Her capital gains before annual exemption are £27300. what will her capital gains tax liability be for 2013/14
2. In the past few years a taxpayer has made the following gains/losses
2011/12 - £5100 gain after annual exemption
2012/13 - £3500 loss
2013/14 - £2800 gain after annual exemption
What will be the unrelieved loss be in 2014/15 carried forward
3. In March 2013 JJones received a dividend of £666. There annual salary is £65000 and this is the only other income. Dividends fall into the upper rate tax band
What will be the additional tax after taking into account any associated tax credit?
Thanks for your help
Rosie x
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