Q8Income taxEveryone can earn a certain amount of money without paying tax. Thisis called a Personal Allowance. They must pay tax on any earningsover this allowance.£11 850Income tax Personal Allowance, 2018/2019This formula gives the amount of Income tax a person pays in a yearT = 0.2 (y - p)where T = income tax for the yeary = money earned per yearp = Personal AllowanceA caterer earns £1375 per month.How much income tax will she pay for the year?

Income tax is a type of policy legislative or regulatory on income made by organizations and…

Answered: A caterer earns £1375 per month. How…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A caterer earns £1375 per month. How much income tax will she pay for the year?