PTX - Dividends Question
Lolo Bean
Registered Posts: 13 Regular contributor ⭐
Hi guys,
I wonder if someone can give me abit of guidance with regards to dividends received?
£400 dividends received.
What is the Gross amount of these dividends???
Now I know that dividends are received Net and therefore we need to Gross them up.
So I calculated 400/100*90 = £444.44 as the Gross amount.
But the correct answer is £440. 10% of the £400 would give me £40 then add that to the £400 to get £440 but I though that you had to do the 100/90 calculation?
Please help, very confused
I wonder if someone can give me abit of guidance with regards to dividends received?
£400 dividends received.
What is the Gross amount of these dividends???
Now I know that dividends are received Net and therefore we need to Gross them up.
So I calculated 400/100*90 = £444.44 as the Gross amount.
But the correct answer is £440. 10% of the £400 would give me £40 then add that to the £400 to get £440 but I though that you had to do the 100/90 calculation?
Please help, very confused
0
Comments
-
Helloo,
Where is the Q from?
I'm with you, £444.44.
B x0 -
The question was in my recent Personal Tax exam (which I failed). When I received my feedback sheet this question was wrong. However I had written down my questions in the exam as I went, so if I did fail I could go back and reference the question.
So I had given an answer of £444.44 (which was wrong).
The available options from the dropdown menu were: 270, 350, 356.56, 360, 440, 444.44, 450 & 5300 -
..and you're sure the Q was £400 not £396?
That's odd. I def would've put £444.44. Maybe someone else can tell us why we're wrong!
B x0 -
It was definitely £400 dividends received.
I know I'd love to know where I'm going wrong, have my resit on Tuesday so trying to get my head around all the areas that I did not meet. :001_smile:0 -
Well, good luck, I took mine 2 weeks ago so I've another 4 weeks until results time!
Hope you get an answer re above!
B x0 -
What theroy question were you given?
Mines was on incorrect returns.
Errors due to lack of reasonable care, deliberate and concealed etc....
Good luck for you results! x0 -
Mine was about why some guys tax liability was so high, as he didn't have that high income. I told him that it was based on the previous years liability. blah blah
B x0
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