R04 - I think an exam question was incorrect
I sat R04 yesterday, and passed (thank God), but I think one of the questions was incorrect. I'll put it below (to the best of my memory), and would be grateful if you guys could review it and see if I am missing something massively obvious here:
Mr X, a higher rate tax payer, was a member of his company’s occupational pension scheme between September 2015 and August 2017, and has recently left employment and requested a refund of his pension contributions. He has received a net payment of £23,000. How much tax is the scheme administrator liable to pay:
Not sure – it was around the £4,000 mark
However, I make the answer £11,000. My best guess is that there is a typo in the question, so the net amount should read £23,500 instead, but am I missing something here?