logo

Taxation Law Study Material

   

Added on  2022-12-29

8 Pages602 Words39 Views
TAXATION LAW

TABLE OF CONTENTS
Question 1........................................................................................................................................1
Question 2........................................................................................................................................2
Question 4 .......................................................................................................................................4
Question 5 .......................................................................................................................................4

Question 1
a)
Taxable Earning from the employment
Salary 49800
Bonus 31000 80800
Relocation Expenses 28000
Exempt 8000 20000
Car 53360
Mileage allowance
3300*1.25 4125
Exempt 1485 2640
Running and fuel cost
17000*0.25 4250
less paid 750 3500
Pension Scheme
Employer contribution 12000
Exempt 12000 0
Contribution of Kushaff
8% of salary 3984
Exempt 3984 0
Taxable Earning from employment 106940
b)
Taxable Earning from employment 106940
Income tax liability 31664
National Insurance liabilities 5998.8
Total Liability 37662.8
Tax due date 31/01/21
1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Principles of Taxation
|8
|652
|37

Business Taxation: Adjusted Trading Profit, Self-Employment vs Employment, Badges of Trade
|12
|3653
|269

Business Taxation: Income, Employment vs. Self-Employment, VAT Schemes
|11
|2675
|37

Business Taxation Study Material
|12
|3469
|22

Business Taxation
|12
|3730
|36

Online Exam - Accounting for Business: Income Statement, Financial Position, Payback Period, NPV, BEP Analysis
|11
|1494
|460