Income Tax Coursework Example | Topics and Well Written Essays - 2000 words

Annual Tax - Coursework Example 2. Wages and pay rates was made out of: †¨Salary taken by Ronni,  £25,000 †¨Wages paid to Bryn (Ronni’s father) for work done to fix bikes, at a pace of  £20 every hour (30 hrs x 48 weeks) =  £28,800 †¨Wages paid to partner bike repairer at a pace of  £15 every hour (30 hrs x 48 weeks) =  £21,600 †¨Casual help in shop,  £5,400 †¨Ã¢â‚¬ ¨ 4. Fixes and recharges was made out of: †¨Repairs to stockroom floor  £850 †¨Repairs to level above shop  £750 †¨Cleaning materials  £300 †¨Cleaning contract for shop and workshop †¨Ã¢ £500 †¨Sundry little things  £250 †¨Ã¢â‚¬ ¨Ã¢â‚¬ ¨Ã¢â‚¬ ¨ 5. Engine Expenses fundamentally for the expense of running Ronni’s domain vehicle utilized for gathering/conveying broken/repaired bikes and for moving things for the shop from the money and convey outlet. Private utilization of the vehicle had been concurred at 30%. †¨Diesel fuel, vehicle  £8500 †¨Insurance for vehicle  £1200 †¨Repairs, vehicle  £350 †¨Road subsidize charge, vehicle  £375 †¨Rental of van  £600 †¨Ã¢â‚¬ ¨ 7. Various costs of were made out of: †¨Subscription to magazine, ‘Cycling Today’ †¨Ã¢ £100 †¨Subscription to Green gathering  £50 †¨Subscription to ‘New Transport Systems’ †¨Ã¢ £24 †¨Sponsorship of neighborhood junior school cycling capability grants  £50 †¨Donation to Green gathering  £25 †¨Donation to nearby medical clinic A&E division (Ronni had a mishap and broke her arm)  £100 †¨Ã¢â‚¬ ¨Postage, writing material and phone costs  £100 †¨Ã¢â‚¬ ¨Accountancy charges  £80 †¨Sundry different things  £100†¨Ã¢â‚¬ ¨ Ascertain the available exchanging benefit for Ronni’s business for the year finished 30 September 2011. †¨You ought to give your own information where none is given, guaranteeing that you hold an available exchanging benefit (for example not an exchanging misfortune) and ought to guarantee that you pick information that will completely exhibit your insight into tax assessment. Figure the Income charge payable by Ronni for the assessment year 2011/12, giving your own information where none is given, to completely show your insight