Sample Assessment Personal Tax

ddavis Registered Posts: 8 New contributor 🐸
can someone help.. I am answering question 1.4 FA2014
Angela receives interest from ISA. Interest from Building Society and dividends from shares. Her other income after personal allowances is £29805. for 2014/15 She has no other income

Calculate the tax deducted at source and any additional tax payable

Income Income Received Tax deducted at source Additional Tax payable

Interest from ISA £412 0 0
Interest from Building soc £856 214 0
Dividend £1314 146

The answers say that the additonal tax payable on the dividends is £105.75 I cannot work out how to get this answer? can anyone help?


Sorry i have seperated it all out but when clicked saved its taken out the table


  • MarieNoelle
    MarieNoelle Registered, Moderator Posts: 1,368
    Her total taxable income is £29805 + savings £1070 (gross £856 + £214) + dividends (£1460 =£1314 + £146) = £32,335.
    ISA interests are not taxable.

    She has exceeded the basic band by £470 (£32,335 - £31,865).
    Therefore £470 out of the £1460 dividends should be taxed at 32.5% instead of 10%.
    £470 * (32.5%-10%) = £105.75
  • ddavis
    ddavis Registered Posts: 8 New contributor 🐸
    thank you
  • hasan
    hasan Registered Posts: 65
    Hi have any of you guys done the PTAX exam yet? and was it similar to the AAT mock exams on the website, in terms of layout?
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