Jenny received a gross salary of £50,000 in 2022/23. She also received interest income of £1,000 and dividends of £5,000. On 10 September 2023 Jenny submitted her self-assessment tax return for 2022/23. Select the correct time limits that apply in relation to Jenny's self-assessment return for 2022/23.
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- Jamie received employment income (PAYE £26300) of £25000 and bank interest £3350 during the tax year 2019/20. Requirement: Calculate Jamie’s income tax payable for the year 2019/20.Miss Mazibuko’s assessment for the year ended 28 February 2021 shows a taxable income of R 120 000. The 2021 assessment was received at the end of January 2022 and the 2022 assessment has not been issued by SARS. She provided you with a payslip which indicates employees’ tax withheld by her employer of R 4 000. Her income is estimated to be R 100 000 for the 2023 year of assessment. Calculate the first provisional tax payment that she needs to make to SARS for the 2023 year of assessment. (NB: No spaces, no Rand sign required and round off to the nearest Rand if applicable).For the tax year 2023/24 Jane has employment income of £47,570, savings income of £1758 and dividends of £3588. What is her tax liability for the year? Enter a whole number, without the £ sign, in the response box.
- Sophie has the following information about her payments of tax for 2017/18: Payment on account 1 £2,000 paid in full on 31 March 2018 Payment on account 2 £2,000 paid in full on 31 July 2018 Final balancing payment £3,000 paid in full on 16 March 2019 Calculate any penalties due. Right to amend an income tax/capital gains tax return: Even once a tax return has been submitted, thetaxpayer has a right to amend it for any mistakes as long as it is within the time frame below. HMRC also have a right to amend the return HMRC- Nine months form the date the return is actually filed Taxpayer- 12 months from the usualsubmission dateSeun started his self-employment on 1 July 2020, he prepared the first period of accounts to 31 December 2021. What tax year will be his first tax year? 2020/2021 2021/2022 2019/2020 2022/2023Rowena is employed as an architect throughout 2020/21 and received the following income during the tax year 2020/21:i) Salary of £114,000 (after her employer had deducted PAYE of £39,950).ii) Her employer provides Rowena with a parking space at work. If Rowena had to payfor her own parking, close to her office, the annual cost would be £900 per annum.iii) Bankinterestof£400.iv) Building society interest of £220.v) Dividends from a UK company of £4,500.vi) Premium bond prize of £150.vii) Property income of £24,000.During the year, Rowena made a charitable donation of £1,000 under the Gift Aid scheme and she paid her annual £500 subscription to the architects’ professional body, which is approved by HMRC.Required (you must answer both parts (a) and (b) to this question):a) Prepare the income tax computation for Rowena for 2020/21, showing the incometax liability and the tax due to be paid.17 marksb) Appraise the UK income tax system with refence to Adam Smith’s canon of equity.
- Peter earned employment income of £14,850 and received dividends of £4,500 in the tax year 2019/20. PAYE of £ 600 was deducted in respect of the employment income. Calculate tax payable for 2019/20Jacob earned employment income of £34250 and receive dividends of £17500 outside of an ISA in the tax year 2019/20. PAYE of £3680 was paid in respect of employment income. Requirement: Calculate Jacob’s tax liability for tax year 2019/20.From the following data, calculate the tax payable by Mr. Sohail Aslam for the year ended 30th June, 2019; a) Salary Rs. 195,000/- p.m b) Special Pay Rs. 25,000/- p.m c) Bonus for the year Rs. 585,000/- d) Conveyance allowance Rs. 15,000/- p.m e) Free accommodation provided by the employer. He was entitled to a house allowance of Rs. 420,000/- f) Medical expenses reimbursed by his employer under the contract of employment Rs. 24,600/- R) Zakat paid under Zakat Ordinance during the year Rs. 48,000/- h) Donation to approved charitable institutions under section 61 Rs. 500,000/- ) Legal expenses during the year Rs. 30,000/- Amount paid for approved pension scheme during the year Rs. 190,000/- k) Shares of listed companies Purchased Rs. 1000,000/-
- Mariya and Majid are married. Majid is employed and has employment income of £35500 p.a. Mariya works only on Fridays and has an employment income of £3000. Mariya makes an election to transfer the marriage allowance to Majid. Calculate the tax liabilities for Mariya and Majid for 2020-2021In 2020, Mohamed receives the following income: Employment income of £ 80,000 Bank interest of £ 20,000 net of 20% tax suffered at source 9,000 net of 10% tax suffered at source What is Mohamed's taxable income for 2019, note that the personal allowance is £10,600, Dividends of £Jane received bank interest of £3000 during the tax year 2020/21. Requirement: Calculate Jane’s Income tax liability assuming she also had employment income £29,000 in the tax year 2020/21
