home

Income chapter on income tax proforma

Quiz by
Ebonyfoster
Rate:
Last updated: March 27, 2025
You have not attempted this quiz yet.
More quiz info >>
First submittedMarch 27, 2025
Times taken8
Average score4.3%
Report this quizReport
Quiz and answer stats >>
Friends stats >>
15:00
Enter answer here
0
 / 23 guessed
The quiz is paused. You have remaining.
Scoring
You scored / = %
This beats or equals % of test takers also scored 100%
The average score is
Your high score is
Your fastest time is
Keep scrolling down for answers and more stats ...
 
Answer
Exempt income:
National savings certificate (bond)
 
ISA (interest and dividends)
 
Statutory redundancy pay
 
winnings
 
scholarships
 
universal credit
 
first £7500 of gross rent from rent a room relief
Tax rates: what is starting rate band and what amount is it on?
0% on first £5000
Savings income nil rate bands:
£1000 for BRTP and £500 for HRTP
Dividend income nil rate bands:
£500 for everyone
Qualifying loan interest:
Buy plant and machinery for use in partnership or employment
 
buy interest in a close company or employee controlled company or co-operative
 
invest in or make loan to a partnership
 
Pay inheritance tax
Gifts of assets to charity: What is deduction given for?
qualifying shares sold at an undervalue and land and buildings to charity
Deduction calculated as follows:
Market value
ADD:
Incidental costs of disposal
LESS:
amount paid by charity
=
allowable deduction
Qualifying interest payments: What is it capped at?
Higher of £50000 or 25% of adjusted trading income
In what circumstance would there be no child benefit tax charge?
ANI is less than £60000
If over threshold:
1% for every £200 between £60000 and £80000
If over second threshold:
charge is all child benefit received in the year
Save Your Stats
Your Next Quiz
US States Quiz
Name all 50 states in the USA. Easy, right?
World Map Without 20 Random Countries
20 random countries have been removed from the map of the world! Can you identify them in 3 minutes?
Name a Valid Country by Disputed Area
For each disputed territory, name any of the countries which claims it.
Pin Europe on a Borderless Map - Sudden Death
Drag the flag onto the correct country. Careful, though! One wrong move and the game ends.
Comments
No comments yet
Copyright H Brothers Inc, 2008–2026
Contact Us | Go To Top | View Desktop Site | Site Map