Emma is the sales director of a company. She earns an annual salary of 95,000 together
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Emma is the sales director of a company. She earns an annual salary of £ 95,000 together with a bonus (received in September each year) based on the company's profits for the accounting year ending on the previous 30 June. She also receives a general expenses allowance of £8,000 per annum, which she uses for business travel and entertaining. The company provides her with a new BMW motor car every two years and pays all running costs. She has an interest-free loan from the company of £20,000 and the company pays her annual subscription to a private medical insurance scheme, costing £1,85 0.
Explain the taxation implications of each of the elements of Emma's remuneration package.
Related Book For
Statistics Data Analysis and Decision Modeling
ISBN: 978-0132744287
5th edition
Authors: James R. Evans
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