Income Tax and National Insurance Quiz

If your annual income is £30,000, and the personal allowance is £12,570, what is the taxable income?

• £17,430

• £18,000

• £19,000

• £20,000

What is the income tax payable on a taxable income of £20,000 if the basic rate is 20%?

• £3,000

• £4,000

• £5,000

• £6,000

If your annual income is £50,000, and the personal allowance is £12,570, what is the taxable income?

• £35,430

• £37,430

• £38,000

• £40,000

Calculate the income tax payable on a taxable income of £37,430 at a basic rate of 20%.

• £6,486

• £7,000

• £7,486

• £8,000

If your annual income is £60,000, and the personal allowance is £12,570, what is the taxable income?

• £45,430

• £47,430

• £48,000

• £50,000

What is the income tax payable on a taxable income of £47,430 if the basic rate is 20% and the higher rate is 40% for income above £37,700?

• £7,486

• £9,486

• £10,000

• £11,000

Estimate the net income if your annual income is £40,000, the personal allowance is £12,570, and the basic rate is 20%.

• £27,000

• £28,000

• £29,000

• £30,000

If your annual income is £70,000, and the personal allowance is £12,570, what is the taxable income?

• £55,430

• £57,430

• £58,000

• £60,000

Calculate the income tax payable on a taxable income of £57,430 with a basic rate of 20% and a higher rate of 40% for income above £37,700.

• £11,486

• £12,000

• £13,000

• £14,000

Estimate the net income if your annual income is £80,000, the personal allowance is £12,570, and the basic rate is 20% with a higher rate of 40% for income above £37,700.

• £55,000

• £56,000

• £57,000

• £58,000