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How much will you owe in taxes to the british government

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Reference no: EM131626428

Question: You are a British investor who bought 500 shares of Acumen Conservative Portfolio fund a year ago for £94.50 (Pound sterling). During the year, you received £3.00 in dividends per share, one-third of which was from dividends from the stocks the fund held and the remaining two-thirds from interest earned on bonds in the fund portfolio. Since income from ordinary dividends is currently taxed more favorably in the UK than interest on cash savings or fixed interest, the effective rate for dividends results in 10%. Assuming you are taxed at the basic rate of 20%, how much will you owe in taxes to the British government this year?

Reference no: EM131626428

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