It appears this example is suggesting we use either 32% or 47% for Nigels tax rate on his ETP, however I interpret his tax rate to be 17% as his over the preservation age. Have I misunderstood this?
You need to correctly complete the excel sheet fields to have the % read correctly.
There is a formula there, click on the box to see the field formula.
You may have not complete the correct information within the fields above.
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