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| £ | £ | ||
|---|---|---|---|
| Employment Income | 80,000.00 | ||
| Less: Personal allowances | (12,570.00) | ||
| 67,430.00 | |||
| Tax liability on income: | |||
| Taxed at basic rate | 37,700.00 | 20% | 7,540.00 |
| Taxed at higher rate | 29,730.00 | 40% | 11,892.00 |
| 19,432.00 | |||
| Less: EIS Investment Tax Relief | 10,000.00 | 30% | (3,000.00) |
| Tax liability after EIS Relief | 16,432.00 | ||
| Tax already paid at source under PAYE | (19,432.00) | ||
| Tax Refund due from HMRC | (3,000.00) |