Lol2010
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18:09 Sun 14 Jun
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L2 maths sample 1 calc 2 (1 of 17)
Income tax
Everyone can earn a certain amount of money without paying tax. This
is called a Personal Allowance. They must pay tax on any earnings
over this allowance.
Income tax Personal Allowance, 2018/2019
£11 850
This formula gives the amount of Income tax a person pays in a year
T = 0.2 (y-p)
where T = income tax for the year
y = money earned per year
p = Personal Allowance
A caterer earns £1375 per month.
How much income tax will she pay for the year?
Show all your working.

Respuesta :

sqdancefan

Answer:

  £930  

Step-by-step explanation:

Put the numbers in the formula and do the arithmetic. The annual earnings are expected to be 12 times the monthly earnings.

  T = 0.2(12×£1375 -11850) = 0.2(£16500 -11850) = 0.2(£4650)

  T = £930

The caterer will pay £930 in income tax for the year.

znk

Answer:

£930  

Step-by-step explanation:

         Monthly income = £1375

     y = Yearly income  = 12 × 1375 = £16 500

     p = Personal allowance            =    11 850

y - p = Taxable income                   = £ 4 650

    T = 0.2(y - p) = 0.2 × £4650       = £    930

The income tax for the year will be £930.

 

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