Gordon Lamont received dividend income of £1500 and building society interest of £375 in the tax year 2019/20. He also has taxable trading income of £15500. Requirement: Calculate Gordon's tax repayable for the year 2019/20.

Gordon Lamont received dividend income of £1500 and building society interest of £375 in the tax year 2019/20. He also has taxable trading income of £15500. Requirement: Calculate Gordon's tax repayable for the year 2019/20.

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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Question

Gordon Lamont received dividend income of £1500 and
building society interest of £375 in the tax year 2019/20. He also
has taxable trading income of £15500.
Requirement: Calculate Gordon's tax repayable for the year
2019/20.

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