Income chapter on income tax proforma - Statistics

General Stats

Answer Stats

	Answer	% Correct
	winnings	100%
Tax rates: what is starting rate band and what amount is it on?	0% on first £5000	0%
Savings income nil rate bands:	£1000 for BRTP and £500 for HRTP	0%
If over threshold:	1% for every £200 between £60000 and £80000	0%
Dividend income nil rate bands:	£500 for everyone	0%
=	allowable deduction	0%
LESS:	amount paid by charity	0%
In what circumstance would there be no child benefit tax charge?	ANI is less than £60000	0%
	buy interest in a close company or employee controlled company or co-operative	0%
Qualifying loan interest:	Buy plant and machinery for use in partnership or employment	0%
If over second threshold:	charge is all child benefit received in the year	0%
Gifts of assets to charity: What is deduction given for?	qualifying shares sold at an undervalue and land and buildings to charity	0%
	first £7500 of gross rent from rent a room relief	0%
Qualifying interest payments: What is it capped at?	Higher of £50000 or 25% of adjusted trading income	0%
ADD:	Incidental costs of disposal	0%
	invest in or make loan to a partnership	0%
	ISA (interest and dividends)	0%
Deduction calculated as follows:	Market value	0%
Exempt income:	National savings certificate (bond)	0%
	Pay inheritance tax	0%
	scholarships	0%
	Statutory redundancy pay	0%
	universal credit	0%

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