Personal tax study support! Is it wrong or am I missing something?
Cd83
Registered Posts: 32
I've watched the calculation video for income tax a number of times and I think they have calculated it wrong.
The person in question is a higher rate tax payer so shouldn't their savings allowance reduce from £1,000 to £500?
I have contacted AAT and so has my tutor with very little help or achknowledgement so I'm hoping some of you guys can assure me I'm not missing something simple?
My exam is next week so it's quite important I know I'm doing things the right way.
Screen shot attached for reference.
Any help appreciated.
The person in question is a higher rate tax payer so shouldn't their savings allowance reduce from £1,000 to £500?
I have contacted AAT and so has my tutor with very little help or achknowledgement so I'm hoping some of you guys can assure me I'm not missing something simple?
My exam is next week so it's quite important I know I'm doing things the right way.
Screen shot attached for reference.
Any help appreciated.
0
Comments
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Anyone????0
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If only I still had access to the student resources, have emailed AAT requesting it.
I would need to check the full video as without further info can't tell if it's definitely incorrect.0 -
Thanks for replying.
Under what circumstances would the £1,000 savings allowance stil apply to a higher rate tax payer? I haven't been taught it if the rule exists.
Thanks0 -
When I did Personal tax at the start of the year, if you are a higher rate tax payer, you savings allowance drops to £500.
Just looked at the tax tables in the office and they also say it should be £500 allowance.
If I remember correctly, in the exam this is a human marked question so I would assume that the marker would know the current rules as they usually teach the subject as well.
Do you have the question that the answer belongs to?AAT Level 2&3 - 2016
AAT Level 4 - 2017
Personal Tax, Business Tax and External Auditing
ACA/CTA -
Certificate Level - Jan 20190 -
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Seems like they got their answer wrong.
AAT Level 2&3 - 2016
AAT Level 4 - 2017
Personal Tax, Business Tax and External Auditing
ACA/CTA -
Certificate Level - Jan 20190 -
That's 7 student and 1 tutor that agree. The AAT won't discuss t with me because I'm a student. Seems madness people may fail their exam because of an error on their study material and they don't really seem to care.0
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@Cd83 - Hi there,
I am 100% sure this answer is wrong.
As they are higher rate payer they get £500 savings allowance so if we deduct this from £1,500 we are left with £1000*40%=£400 and not £200.
They have got the answer wrong. I also have my exam very soon so I am with you they have got the answer wrong. Thank you0 -
Hi,
I called customer service who gave me an email address for content queries who responded and said my tutor needed to contact them as they couldn't discuss with a student
My course tutor is jackie nealon from bury college who contacted content queries but she hasn't had any response from them.
If you could let me know the outcome of your investigation that would be great.
Thanks0 -
Go with what everyone else has said. Good luck!
AAT Level 2&3 - 2016
AAT Level 4 - 2017
Personal Tax, Business Tax and External Auditing
ACA/CTA -
Certificate Level - Jan 20190 -
I'm going to have to. Thank you0
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I have reached out to the team @Cd83 but they are on strict dealine and are unable to handle the request until tomorrow. I understand you have already had a response from our customer support team and tutor however, so I can't guarantee anything different than you have already heard.0
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Thank you0
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@AAT_Team how has this stilll not been taken down? I had an email in December saying it was incorrect and was being taken down. See the attached screen shot. Students all over the country are wondering the same as me if they are right or wrong0
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