Mathematics · Financial Mathematics
Tom is employed and also has some self-employment income. Tom's income tax liability and Class 4 national insurance contributions (NICs) for the tax year 2023/24 totalled £39,000, of which £5,000 was deducted via PAYE. Tom's income tax liability and Class 4 NICs for the tax year 2024/25 will total £51,000, of which £6,000 will be deducted via PAYE. What will be the amount of each of Tom's payments on account for the tax year 2024/25?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1£34,000
- 2£25,500
- 3£22,500
- 4£17,000✓
Correct answer
£17,000
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