Another tax repayable question

topcat

13/14

Age 81

Gross income (PAYE £2010) £17,000
Income from rented properties £3500
income NS + I investment account (gross) £380
div rec net £630
Premium bond prize £100

tax payable 13/14

answer is £34 repayable

help really appreciated as always

My workings pretty much lost it from tax liablity

MarieNoelle

Hi topcat
your calculations are correct up to the tax liability. From then you need to deduct tax deducted at source PAYE (£2010) + notional tax credit on dividends (700 x 10% = £70)
so 2114 - (2010 + 70) = £34 tax PAYABLE
P.S: Does it really say repayable to the tax payer? Then I am as confused as you are!

topcat

MarieNoelle wrote: »

Hi topcat
your calculations are correct up to the tax liability. From then you need to deduct tax deducted at source PAYE (£2010) + notional tax credit on dividends (700 x 10% = £70)
so 2114 - (2010 + 70) = £34 tax PAYABLE
P.S: Does it really say repayable to the tax payer? Then I am as confused as you are!

Hi Marie

Thank you very much for your help !:001_smile:

Yea it does say repayable but i am going with your answer and assuming it is a mistake