rla tax calculator

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M
Mike_491
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I have probably missed something crucial but I have just used the RLA tax calculator to work out how I might be affected by the forthcoming budget changes in 2020. Out of interest, I decided to see if I would better to try and pay of my mortgage before 2020.

I inputted a salary of 20,000 and rental income of 30000 and zero mortgage interest.

The software correctly calculated a tax bill of 5627

However, it also stated that the 'Extra Tax Due to Budget Changes' would also be 5627

As there would be no mortgage, surely the budget change would not affect the tax bill and so the 'Extra Tax Due to Budget Changes' should be zero?

As I am not a tax expert, I have written this tongue in cheek and apologise in advance to the experts as I am sure I have got my figures wrong somewhere but would appreciate knowing where I have gone wrong
14/09/2015 14:58

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