Calculate the Class 4 NICs payable in each of the following cases: (a) Shawn has trading income

Question:

Calculate the Class 4 NICs payable in each of the following cases:

(a) Shawn has trading income for 2020-21 of £16,140.

(b) Catherine has trading income for 2020-21 of £55,000.

(c) Paul has trading income for 2020-21 of £8,300.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

See More Books

Question Posted: Feb 11, 2024 02:00 AM

See More Questions

Calculate the Class 4 NICs payable in each of the following cases: (a) Shawn has trading income for 2017-18 of 14,880. (b)Catherine has trading income for 2017-18 of 50,000. (c) Paul has trading...
Claud Chapperon is a self-employed distributor of wholesale clothing who began trading on 1 July 2012. His summarised accounts for the year to 30 June 2020 are shown below. The figures in brackets...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
Jarvis Company produces a product that has a selling price of $20.00 and a variable cost of $15.00 per unit. The company's fixed costs are $50,000. What is the break-even point measured in sales...
Make presentation on Power Point of the following topics and also write conclusion. System Development Holism vs Reductionism Disaster Backup/Disaster Recovery
Consider the following sample data: y 5 1 3 x 5 1 3 a. Construct a scatterplot for the data. b. It is possible to find many lines for which g1y - yn2 = 0. For this reason, the criterion g1y - yn2 =...
On June 1, Alexander Corporation sold goods to a foreign customer at a price of 1,000,000 pesos. It will receive payment in three months on September 1. On June 1, Alexander acquired an option to...
Roundtree Chocolates manufactures and distributes chocolate products. It purchases cocoa beans and processes them into two intermediate products: Chocolate powder liquor base. Milk chocolate liquor...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company...
(a) Sabrina has two employments throughout 2020-21. Calculate the refund of NICs due for the year if her regular monthly earnings from the two employments are: (i) 940 and 1,340 (ii) 2,600 and 3,000...
(a) Alison has been self-employed for many years. Her profit for tax year 2020-21 is 6,380. Is she liable to pay Class 2 NICs for the year? (b) Amanda starts a business on 25 May 2020 and she is...
Refer back to the regression equation in exercise 12.12: NetIncome = 2,277 + .0307 Revenue. Recall that the variables are both in millions of dollars. (a) Calculate the residual for the x, y pair...
1. Identify an industry that competes internationally (i.e., fast food, clothing, sportswear, automotive, etc). All your companies must be from ONE Industry (you cannot discuss Taco Bell and Nike)....
A research article on " Leadership in Project Management: Cultivating Strong Employee-Employer Bonds" shows major findings on why big companies fail in leadership skill practice. How they can...
Discuss and Identify the current types of stock, such as common or preferred stock, currently issued, and outstanding. Include a narrative description along with the values and number of shares found...
The organization we intend to study is Local Point, a student cafeteria run by UW Housing & Food Services. Our team would like to figure out how to utilize modern technology and rational...
Briefly summarize the Coase Theorem (include the 3 key conditions). List the major types of approaches government typically takes to deal with negative externalities. Suppose the demand for...
Describe the benefits and limitations of using expert systems?
Explain the operation of the dividends received deduction.
UK resident company has 19 subsidiaries, five of which are situated abroad. In the year to 31 March 2022, the company had the following results: None of the dividends received were from any of the...
Donald is resident and domiciled in the UK. He is not a Scottish taxpayer. He has the following income in tax year 2021-22: Donald claims only the personal allowance. Compute the amount of income tax...
Brist Ltd is a UK resident company which prepares annual accounts to 31 March. In the year to 31 March 2022, the company had a UK trading profit of 2,120,000 and received overseas property income of...
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company...
Brief Exercise 10-6 Flint Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $327,600. The estimated fair values of the assets are land $62,400, building...
"faithful respresentation" is the overriding principle that should be followed in ones prepaparation of IFRS-based financial statement. what is it? explain it fully quoting IAS. how this this...

Calculate the Class 4 NICs payable in each of the following cases: (a) Shawn has trading income

Question:

Step by Step Answer:

a 9 x 16140 9500 59760 b 9 x 50...View the full answer

Taxation Finance Act 2020

Students also viewed these Business questions