£45 600 is more than £43 000 and less than £150 000. According to the third • point, the tax will be 40%. Also, according to the first • point, the first £11 000 will not be taxed. So, only £34 600 will actually be taxed. To finally get the answer, Multiply £ 34 600 by the rate of 40%, and the result is £ 13 840.
