NSI SI DI

$ $ $
EMPLOYMENT INCOME 95000
BANK INTEREST 8000
DIVIDENDS INCOME 7500
TOTAL INCOME 95000 8000 7500 110500
LESS:
PERSONAL ALLOWANCE -7250
TAXABLE INCOME 87750 8000 7500 103250

10500
5250
7250

NSI
$
EMPLOYMENT INCOME 145000
PROPERTY INCOME 10800
TOTAL INCOME 155800
LESS:
PA 0
TAXABLE INCOME 155800

INCOME TAX LIABILITY: $

(0-37500) 7500
(37500-150,000) 45000
(150,000-155800) 2610
TOTAL LIABILITY: 55110

NSI SI
$ $
TRADING INCOME 15100
BANK INTEREST 8000
TOTAL INCOME 15100 8000
LESS:
PA -12500
TAXABLE INCOME 2600 8000

INCOME TAX LIABILITY: $

(2600*20%) 520
(2400*0%)-SAVING INCOME STAR.. 0
(1000*0%) SAVING NIL RAND BAND 0
920
1440

NSI SI
$ $
EMPLOYMENT INCOME 46450
BANK INTEREST 5550
TOTAL INCOME 46450 5550
LESS:
PA -12500
TAXABLE INCOME 33950 5550 39500

INCOME TAX LIABILITY: $

(33950*20%) 6790
(500*0%)-SAVING NIL RATE BAND 0
(37500-33950-500)*20% 610
(5550-3550-500)*40% 800
8200

NSI SI
$ $
TRADING INCOME 146800
BANK SOCIETY INTEREST 6700
TOTAL INCOME 146800 6700
LESS:
PA 0
TAXABLE INCOME 146800 6700 153500

INCOME TAX LIABILITY: $

(0-37500) 7500
(37500-150,000) 45000
(3500)*45% 1575
54075

NSI SI DI
EMPLOYMENT INCOME 60450
INTEREST INCOME 1600
DIVIDEND INCOME 12000
TOTAL INCOME 60450 1600 12000
LESS:
PA -12500
TAXABLE INCOME 47950 1600 12000 61550

INCOME TAX LIABILITY $

(37500*20%) 7500
(47950-37500)*40%) 4180
500*0% 0
1100*40% 440
2000*0% 0
10000*32.5% 3250
15370

NSI SI
SALARY 45150
BANK INTEREST 8000
TOTAL INCOME 45150 8000
LESS:
PA -12500 4350
TAXABLE INCOME 32650 8000 40650

INCOME TAX LIABILITY $

32650*20% 6530
500*0% 0
4350*20% 870
1260
8660
LESS: PAYE -6530
2130

NSI SI DI
SALARY 11100
BANK INTEREST 10000
DIVIDENDS 54500
TOTAL INCOME 11100 10000 54500
LESS:
PA -11100 -1400
TAXABLE INCOME 0 8600 54500 63100

INCOME TAX LIABILITY: $ 28900

500*0%
8100*20% 620
2000*0% 0
(26900*7.5%) 2017.5
8320
10957.5
-75
10882.5

ALEX $ BERTHA
NET INCOME 11150 NET INCOME
LESS: PA -11150 LESS:
TAXABLE INCOME 0 PA
TAXABLE INCOME
1350
INCOME TAX LIABILITY:

LESS:
MARRIAGE ALLOWANCE
INCOME TAX LIABILITY

GIFT AID DONATION: 9000

EMPLOYMENT INCOME 120,000

LESS
GIFT AID 9000
ADJUSTED NET INCOME 111,000
EXCESS 11000
5500
 7000

46500

56000
-4500
51500
1500
268.2

OWEN $
30TH JUNE 250

ADD
ACCRUED INTEREST 208

458

YVONNE
31-Dec 250
LESS:
ACCRUED INTEREST -208
41.66667

CAROLINE: $
31-Dec 1000
LESS: -166.6667

ADD ACCRUED INTEREST: 500

1333.333

$ $
Reimbursement by employer 3850
less:
Statutory Motoring Allowance 4500
250
-4750
-900

$ $
nsi 3000
si 12500

income tax liability

600
2000*0% 0
1000*0% 0
 1900
2500

2700 400
1600 1433.333
166.666666666667 1833.333

$
Salary 18000
bonus 500
4800
23300

(A)
TAXABLE BENEFIT
HIGHER OF
ANNUAL VALUE 1200

RENT 0

1200
LESS RENT PAID -500
700

ADDITIONAL CHARGE 1125

1825

(B) TAXABLE BENEFIT 700

ADDITIONAL CHARGE 1687.5
2387.5

© TAXABLE BENEFIT IS ZERO AS JOB RELATED

8000
LESS RENT PAID -2000
6000
ADDITIONAL CHARGE 2250
8250

(A) JOB RELATED

LOWER OF
10% OF SALARY 900

ACTUAL EXPENSES 3800

900
(B)
ACCOMODATION NOT JOB RELATED:
 8000
6750
14750
9833.333

1800

1) HIGHER OF 4
20% OF COST 80
OR
RENT 0
80

2) HIGHER OF $
MARKET VALUE 50
OR
MARKET VALUE WHEN FIRST GIVEN LESS 320
TAXABLE BENEFIT

LESS AMOUNT PAID BY EMPLOYEE 30

290

HIGHER OF
MARKET VALUE 600
OR
MV LESS TAXABLE BENEFIT 550

FLORRIE $
LIST PRICE 29000
% APPLICABLE 6%
1740
JASPER
LIST PRICE 15000
LESS
CONTRIBUTION -500
15000
% APPLICABLE 13%
1950
-500 1450
NIGEL $
LIST PRICE 22000
% APPLICABLE 30
6600 4950

ROBYN
LIST PRICE 18000
% APPLICABLE 21
3780

VICKY
 LIST PRICE 25000
LESS
RESTRICETED CAPITAL
CONTRIBUTION -5000
20000
% APPLICABLE 37%
7400 1850
-300
1550

% applicable 25
list price 15000
3750
fuel 6125
9875
less:
employee contribution -270
9605

(a) AVERAGE METHOD $

2025
(B) STRICT METHOD $
1687.5
450
2137.5

12500
-3905
-250
8345
834L
JOE $
EARNING 68650
LESS:
PA -12500
56150
INCOME TAX LIABILITY: $
9300 9000
3860
13160 46500

$
EARNING 132500
LESS:
PA 0 (W1)
132500

$ 25000
12500
 28000
40500

$
earning 68650
less
pension contribution -9000
less:
pa -12500
47150

$
7500
3860
11360

$
SALARY 50,000
LESS
CONTRIBUTION -5000
annual allowance contribution excess
2017/18 40000 23600 16400
2019/20 40000 30400 9600
2020/21 40000 66000

annual allowance contribution excess

2017/18 40000 16000 24000
2018/19 40000 36000 4000
2019/20 40000 25000 15000
2020/21 40000 -43000 -3000
83000
carried forward 19000 -43000
40000
$
trading income 265000
property income 33500
total income 298500
less:
qualifying interest -12500
net income 286000
17000

290000
add: employee contribution 29000
add: employer contribution 14500
 $
employment income 315000

315000

= 21500
45000
42750
29700
138950

126000
less;
personal allowance -12500
113500

income tax liability: $

19000
7400
7000
33400

3000
3000
3600
9600

2000
3000
3000
3600
1200
12800

$
RENT RECEIVABLE 18000

FIONA'S INCOME TAX LIABILITY:

$
PROPERTY INCOME 9900
SECURITY DEPOSIT 200
REPLACEMENT RELIEF -305
MILLEAGE ALLOWANCE -450
PROPERTY INCOME 9345

PROPERTY TAX LIABILITY:

3738
-400
3338
LESS:
TAX REDUCER 400

rent 7696
less:
rent a room relief -7500
she should choose rent a room relief basis over normal expense.

premium 16000
less:
-12480
3520

premium 60000
less: -16800
43200
rent 6000
49200

relief 2880
1440

-650
-580
-1230

30000
6000
24000

CALCULATE PROPERTY INCOME $

3600
200
-480
5200
-800
-45
350
-1200
-200
6625

$
NET PROFIT 17710
LESS: BANK INTEREST RECEIVED -860
ADD: DEPRECIAITON 1500
ADD: ACQUISITION COST 250
ADD: ENTERTAINMENT EXPENSE 750
19350

ADJUSTED TRADING INCOME

$
NET PROFIT 7900
ADD: DEPRECIAITION 2000
CUSTOMER ENTERTAINMENT 2500
WAGES 10000
CAR EXPENSE 300
LESS: BANK INTEREST RECEIVED -500
SALE OF ASSET -700
ADJUSTED TRADING PROFIT 21500

AIA FYA MP SRP ALLOWANCE

TWDV B/F 12500

ADDITIONS:
MACHINERY 990000
VAN 17500
CAR (100G/KM) 9000

DISPOSALS:
PLANT -12000

ADDITIONS QUALIFYING FOR AIA:

9500
AIA (100%) -1000000 1000000
BALANCE TFR TO MP OR SRP 7500 7500
17000

ADDITIONS NOT QUALIFYING FOR AIA

WDA 18%/6% -3060 3060

TWDV C/F 13940

ALLOWANCES 1003060

AIA MP ALLOWANCES
Y/E 31 DECEMBER 2020
TWDV B/F 28000

ADDITIONS:
28/04/2020 FACTORY EQUIPMENT 155,000
1/08/2020 FORKLIFT TRUCKS 70000

DISPOSALS:
01-05-2020 MACHINE -2000
C/F 26000

ADDITIONS QUALIFYING FOR AIA:

AIA (100%) -225,000 225,000

ADDITIONS NOT QUALIFYING FOR AIA:

WDA 18% -4680 4680

TWDV C/F 21320 229,680

500000
109044
609044

mp srp
80000 20000
5800
-1000000 1000000
15444 1200 15444
1200

1016644

500000
7722
15600
523322

Y/E DECEMBER 2020 AIA FYA MP SRP ALLOWANCES

TWDV B/F 25000 8000

ADDITIONS:
12/2/20- SRP 26000
1/7/20- MP 19000
MACHINERY 10000
DISPOSAL:
15/2/20- SRP -2000
30/7/20- MP -1000

ADDITIONS QUALIFYING FOR AIA

AIA (100%) -10000 10000
43000 32000
WDA 18%/6% 7740 1920 9660
19660
Y/E 31/03/2021 COMPUTER EQUIPMENT
ADDITION: ALLOWANCE
1/11/2021 COMPUTER EQUIPMENT 2700

C/F 2700

WDA 18% 486 364.5

Y/E 31/03/2020 CAR 1 CAR 2

ADDITIONS: SRP MP ALLOWANCES
30-06-2019 CAR 1 18000
30-06-2019 CAR 2 15000

C/F 18000 15000

WDA 18%/6% 1080 864

2700 2700
16920 12300 3564
-10000 -10000
6920 2300

Y/E 31/03/2021 AIA FYA MP SRP SLA

TWDV B/F 15000 4000
ADDITIONS:
15/4/2020 EQUIPMENT 123000
31/8/2020 CAR 1 17000
31/8/2020 CAR 2 20000
DISPOSALS:
2/9/2020 LORRY -9800
1/2/2021 SLA -800

C/F 123000 17000 5200 20000 3200

ADDITIONS QUALIFYING FOR AIA:

AIA (100%) -123000

ADDITIONS NOT QUALIFYING FOR AIA:

FYA (100%) -17000
WDA 18%/6% -936 -1200
BALANCING ALLOWANCE -3200
TWDV C/F 4264 18800 3200

2019/20
2020/21 22000
2021/22 18000

basis period $
2018/19 opening year rule 4600
2019/20 actual year period 18400

2020/21 12M TO ACC. DATE 18400

2021/22 CYB 26000

67400
OVERLAP PROFIT 13800
BASIS PERIOD $
2019/20 OPENING YEAR RULE 9000

2020/21 12M TO ACC. DATE 12000

2021/22 CYB 15000

36000
OVERLAP PROFIT 3000

2019/20 2020/21
$ $
trading income 1500
dividend income 31500 31500
less:
loss relief against general income -7000 -31500
26000 0
less: personal allowance -12500
13500

2019/20 2020/21 2021/22

$ $ $
trading profit 16000 0 6000
property income 15000 15000 15000
total income 31000 15000 21000
less:
loss relief against general income -31000 -3000

2020/21 2019/20
$ $
trading income 0 40000
other income 100,000 100000
less: loss relief -100000 -90000
0 -50000

2018/19 2019/20 2020/21 2021/22

trading income 20000 8000
less: carry forward relief -8000
other income 13000 13000 13000 13000
less: loss relief -33000 -13000 -13000
0 0 0 13000
c/fwd 9000
$
26500

-12500
14000

$
2800

-250
2550
ALLOWANCE
ALLOWANCES
ALLOWANCES

123000

17000
2136
3200
145336