Situation 1 You are required to calculate Rose's income tax liability for .the year 2019/20 Situation 2 Assume Rose has paid £4,000 towards a gift aid donation .during the year 2019/10, re-assess her tax liability

Situation 1 You are required to calculate Rose's income tax liability for .the year 2019/20 Situation 2 Assume Rose has paid £4,000 towards a gift aid donation .during the year 2019/10, re-assess her tax liability

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter13: Tax Credits And Payment Procedures

Section: Chapter Questions

Problem 23CE

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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

Situation 1
You are required to calculate Rose's income tax liability for
.the year 2019/20
Situation 2
Assume Rose has paid £4,000 towards a gift aid donation
.during the year 2019/10, re-assess her tax liability

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