a higher rate taxpayer gets a net interest payment of £420 from his

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03-07-2008, 11:41 AM

Richard G

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a higher rate taxpayer gets a net interest payment of £420 from his

deposit account. How much more tax to pay could you please explain
A higher-rate taxpayer receives a net interest payment 0f £420 from his deposit account. How much additional tax,if any, is due?
A.None
B.£94.50
C.£105.00
D.£168.00
This is the question in full as I read it..could someone please explain!! I know the answer but cant work it out. £97 doesnt add up.
20% on to £420 doesnt come to £525.. £105 is the answer but still cant see the maths.
The penny has dropped.... i was doing my sums in reverse.. finally I have it... many thanks.
how did you get to £525 from £420???????

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