Leonard is employed and received a gross salary of 3,447 per month during tax year 2020-21. He
Question:
Leonard is employed and received a gross salary of £3,447 per month during tax year 2020-21. He also has a small business and paid 52 Class 2 NICs for the year. His trading income for 2020-21 was £12,090.
Calculate the refund of NICs due to Leonard for the year (if any).
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
To calculate Leonards refund of NICs for the year we first need to determine if he has overpaid his ...View the full answer
Answered By
HELEENA HENTRY
I am currently persuing post graduation from MG University kottayam in MCOM. I successfully completed my graduation in BCOM FINANCE AND TAXATION from st Albert s college with 83% marks. I have good experience in online tutoring. I am currently working in CHEGG an online tutoring platform. Moreover iam taking home tution for plus two and plus one students. I am also working in hello experts as subject expert in economics. I have attended many international conferences and paper presentation in commerce. I worked in many online tutoring platforms and thus I assure good quality work.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Leonard is employed and received a gross salary of 3,452 per month during the tax year 2021-22. He also has a small business and paid 52 Class 2 NICs for the year. His trading income for 2021-22 was...
-
Leonard is employed and received a gross salary of 3,452 per month during tax year 2021-22. He also has a small business and paid 52 Class 2 NICs for the year. His trading income for 2021-22 was...
-
Leonard is employed and receive d a gross salary of 3,335 per month during tax year 2017-18. He also has a small business and paid 53 Class 2 NICs for the year. His trading income for 2017-18 was...
-
[10 marks] Click the link below to see the code for a program. Your task is as in assignment 3: re-write the code of this program so that, to a user of the program, it works as before, but in your...
-
A materials requisition slip showed that direct materials requested were $66,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is Work...
-
A particle carrying a charge of \(+32.0 \mathrm{nC}\) is located at \((10.0 \mathrm{~nm}, 95. 0 \mathrm{~nm})\), and a particle carrying a charge of \(+98.0 \mathrm{nC}\) is located at \((45.0...
-
Sheldon Products produces plastic containers through a blow-molding process. The company uses process costing because its products are generally homogeneous and are produced in large batches. Malachi...
-
Items a through l represent possible errors and fraud that you suspect may be present at Rex Company. The accompanying List of Auditing Procedures represents procedures that the auditor would...
-
1. In the given reaction, XYZ3 2. 3. 4. 5. X+Y+3Z If one mole of each of X and Y with 0.05 mol of Z gives compound XYZ3. (Given: Atomic masses of X, Y and Z are 10, 20 and 30 amu, respectively.) The...
-
Three brothers, Daniel, David and Derrick have been discussing their respective taxation affairs and how much they dislike paying tax. None of them are Scottish taxpayers. Daniel's income for tax...
-
Brenda is a company director and she earns a regular monthly salary of 6,000. In December 2020 she received a 20,000 bonus. She is provided with a diesel-engined company car (registered in January...
-
A 6-year Circular File bond pays interest of $80 annually and sells for $950. If Circular File wants to issue a new 6-year bond at face value, what coupon rate must the bond offer? 6.00 years Time...
-
Balance Sheet Current Assets Inventory 2017 2018 782.9 Financial Assets Fixed or Non-Current Assets Total Assets Current Liabilities CAGR example Non-Current Liabilities Total Liabilities...
-
Sabine owns a small rental apartment building and uses an outside professional management company to look for tenants, handle the leases, make repairs and collect rents. During the year, the property...
-
If money can earn 7.8% compounded monthly, how much more money is required to fund an ordinary annuity paying $360 per month for 25 years than to fund the same monthly payment for 15 years? (Do not...
-
What do you mean weve used up all our cash and lines of credit? I dont get it! I thought we had a healthy financial position as per last years fi- nancial statements. How could this have happened,...
-
3) Use L'Hospital's Rule to find the following Limits. a) lim (cos(x)-1) x-0 b) lim x+x xoo 1-2x
-
Was the note that the Gazdas singed a negotiable instrument?
-
As of January 1, 2018, Room Designs, Inc. had a balance of $9,900 in Cash, $3,500 in Common Stock, and $6,400 in Retained Earnings. These were the only accounts with balances in the ledger on January...
-
Simon owns stock that has declined in value since acquired. He has decided either to give the stock to his nephew, Fred, or to sell it and give Fred the proceeds. If Fred receives the stock, he will...
-
Sheila sells land to Elane, her sister, for the fair market value of $40,000. Six months later when the land is worth $45,000, Elane gives it to Jacob, her son. (No gift tax resulted.) Shortly...
-
Abby's home had a basis of $360,000 ($160,000 attributable to the land) and a fair market value of $340,000 ($155,000 attributable to the land) when she converted 70% of it to business use by opening...
-
If the project is to be completed by June 30, the production must begin on June 15, the raw materials must be in house by June 1, and the contract has to be signed by May 15. These are examples of:...
-
Gender Corporation declared and issued a 6% stock dividend on December 1. Prior to the declaration, Gender's retained earnings were $36,000, shares outstanding were 12,100, $2 par value, common stock...
-
Find the equation for a hyperbola with vertices (0,5) and (0,-5) and asymptotes y=+-(5)/(9)x
Study smarter with the SolutionInn App