Oh Darling...

[minstrel]

The way the PUMA has calcualted things is nowt like the way I have....which I have lifted directly from SJD accountants guide.....

They use 75% taper relief...like I have done..

At NO point anywhere is 10% mentioned...which is why I am dead confused!! Is the way SJD have worked things completely wrong (which I doubt)..

BTW - what a great way to spend a Friday night ;-)

They both get to the same result.

You've done:

((100K - 75%) - 9,200) * 40%

which is the same as:

(100k * 0.25) - 9,200) * 40%

which is also equal to:

(100k - (9,200 * 4)) * 10%

and then:

(100k - 36,800) * 10%

It all works out the same. THEPUMA has just factored the 75% taper relief into the 40% tax to get 10% rather than taking it off the amount available for distribution.

[Billy Pilgrim]

They both get to the same result.

You've done:

((100K - 75%) - 9,200) * 40%

which is the same as:

(100k * 0.25) - 9,200) * 40%

which is also equal to:

(100k - (9,200 * 4)) * 10%

and then:

(100k - 36,800) * 10%

It all works out the same. THEPUMA has just factored the 75% taper relief into the 40% tax to get 10% rather than taking it off the amount available for distribution.

cheers...gottcha...deary me its been a long day!!

Now it all makes sense.....at last!!!