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Calculation of net profitability by P&L a/c for 2016-17 10

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Added on  2019-12-28

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Taxation [pic] INTRODUCTION 4 TASK 14 1.14 1.26 1.37 TASK 28 2.18 2.29 2.310 TASK 311 3.111 3.212 3.312 4.113 4.213 4.313 CONCLUSION 14 REFERENCES 16 Index of Tables Table 1: Calculation of net profitability by P&L a/c 8 Table 2: Contribution of total taxable earnings and tax liability for 2016/17 9 Table 3: Calculations of taxable income and tax liability of Susan for employment for 2016-17 10 Table 4: Calculation

Calculation of net profitability by P&L a/c for 2016-17 10

   Added on 2019-12-28

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Taxation 1
Calculation of net profitability by P&L a/c for 2016-17 10_1
Table of ContentsINTRODUCTION................................................................................................................................4TASK 1.................................................................................................................................................41.1....................................................................................................................................................41.2....................................................................................................................................................61.3....................................................................................................................................................7TASK 2.................................................................................................................................................82.1....................................................................................................................................................82.2 ...................................................................................................................................................92.3..................................................................................................................................................10TASK 3...............................................................................................................................................113.1...................................................................................................................................................113.2..................................................................................................................................................123.3..................................................................................................................................................124.1..................................................................................................................................................134.2..................................................................................................................................................134.3..................................................................................................................................................13CONCLUSION..................................................................................................................................14REFERENCES...................................................................................................................................162
Calculation of net profitability by P&L a/c for 2016-17 10_2
Index of TablesTable 1: Calculation of net profitability by P&L a/c............................................................................8Table 2: Computation of total taxable earnings and tax liability for 2016/17......................................9Table 3: Calculations of taxable income and tax liability of Susan for employment for 2016-17....10Table 4: Calculation of tax liability of Susan for 2016/17.................................................................10Table 5: Calculation of chargeable profit for 2016/17........................................................................11Table 6: Calculation of tax liability for 2016/17................................................................................12Table 7: Calculation of capital gain taxes of Mr. Lucy for the year 2016-17.....................................143
Calculation of net profitability by P&L a/c for 2016-17 10_3
INTRODUCTIONEvery nation's government make taxation laws and regulations which all the citizens needsto follow strictly, otherwise, it can arise legal obligations. Generally, tax is regarded as a process ofraising governmental funds to spend it on the public services such as health, safety and security,education and society welfare. Referring UK, there are number of taxes levied by the governmentsuch as corporation tax, income tax, capital gain taxes (CGT) etc. Moreover, its tax legislationsprovide a clear understanding of the necessary provisions, rules and regulations, through which,regulatory bodies can maintain control over the taxation system and framework. The aim of this assignment is to conduct an in-depth evaluation and analysis of UK taxenvironment, its policies and overall system. Through this, readers will be able to identifyingdifferent types of taxes, including both the direct and indirect. Moreover, the role of taxpractitioners will be identified in adherence to tax compliance. Along with this, taxation liabilitiesand tax payable will be calculated by taking into consideration the laws and policies. Furthermore,it is also necessary for the British citizens to file their respective tax return from different source ofincome in prescribed forms. Therefore, the report will make an analysis of various tax return formsin which taxable amount needs to be file to the taxation authority. TASK 11.14
Calculation of net profitability by P&L a/c for 2016-17 10_4

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