UK tax system question? plzzz help!!!?

Question

WEEK 7/8 TUTORIAL EXERCISE

An individual taxpayer had the following information during the tax year:

£

Employment income including non-cash benefits 42,000

Allowable expenses in employment 1,000

Property business profits 11,000

Calculate the amount of the income tax liability.

THIS IS UK TAX SYSTEM

Answer 1

Which tax year are you talking about?  If this is homework then you could at least try and ask for help when you get stuck.  Are you expecting us to do all the work for you?

Obviously the total taxable income is 42,000 - 1,000 + 11,000 = £52,000.

Let's use the 2007/08 rates.

The first £5,225 is covered by personal allowances so nil tax due

The next £2,230 is at 10%

The next £32,370 is at basic rate (22%).

The balance is at 40%.

If you can't work that out then you are going to fail anyway.