Calculate the amount of CGT payable for 2017-18 by each of the following individuals. In each case,
Question:
Calculate the amount of CGT payable for 2017-18 by each of the following individuals. In each case, "taxable income" comprises the individual's total income, less reliefs which may be deducted from total income and less the personal allowance.
Transcribed Image Text:
Residential prop. gains (a) A nil (b) B nil (c) C 15,700 (d) D nil (e) E 11,700 (f) F nil nil (g) G 4,000 17,000 Assume in each case that there are no Gift Aid donations or pension contributions. Name Taxable income 71,000 71,000 47,500 52,700 30,790 31,700 23,100 ER gains nil 12,500 32,800 27,600 nil Other gains 12,500 nil nil 4,900 nil 20,300 8,500 Allowable losses nil nil nil 1,000 nil 400 2,200
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
a Taxable income exceeds the basic rate limit so the other gains are taxed at 20 CGT payable is 1250...View the full answer
Answered By
AJIN KURIAKOSE
I HAVE ELECTRONICS ENGINEERING DEGREE..AND MY AREA OF INTEREST IS MATHEMATICS,CONTROL SYSTEM,NETWORK,DIGITAL
4.70+
21+ Reviews
32+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Calculate the amount of CGT payable for 2019/20 by each of the following individuals. In each case, taxable income comprises the individuals total income, less reliefs which may be deducted from...
-
Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...
-
Comprehensive review problem. Exhibit 16.10 (On page 799) present a consolidated statement of income and retained earnings for 2009, and Exhibit 16.11 (on pages 800'801) presents a consolidated...
-
The Rosa model of Mohave Corp. is currently manufactured as a very plain umbrella with no decoration. The company is considering changing this product to a much more decorative model by adding a...
-
The number of messages sent to a computer bulletin board is a Poisson random variable with a mean of 5 messages per hour. (a) What is the probability that 5 messages are received in 1 hour? (b) What...
-
Three landmarks of baseball achievement are Ty Cobbs batting average of 0.420 in 1911, Ted Williamss 0.406 in 1941, and George Bretts 0.390 in 1980. These batting averages cannot be compared directly...
-
The stochastic processes and are two GBMs and represent Sa(t)
-
Javier Company has sales of $8 million and quality costs of $1,600,000. The company is embarking on a major quality improvement program. During the next three years, Javier intends to attack failure...
-
ALGORITHM Brute ForceClosest Pair(P) //Finds distance between two closest points in the plane by brute force //Input: A list P of n (n 2) points p(x1, y),..., Pn(xn, yn) //Output: The distance...
-
Brenda is a company director and earns a regular monthly salary of 6,000. In December 2017 she received a 20,000 bonus. She is provided with a diesel -engined company car which has an emission rating...
-
Rework the previous example, given that the employee in question is a company direct or. Data from previous example During 2017-18, an employee earns 4,000 per month. (a) Calculate the total primary...
-
The entropy of the working fluid of the ideal Carnot cycle (increases, decreases, remains the same) during the isothermal heat rejection process.
-
Review the three scenarios below. In (total), describe the next steps that the company should take to properly respond to the individual situations. Scenario A James is a cashier, working for Write...
-
8. Write a program in C++ to accept input integer n and calculate the sum of the series (1*1) + (2*2)+(3*3) + (4*4) + (5*5) + + (nn). Draw the Flow Chart also. Sample Output: Input the value for nth...
-
Jose received $ 350 for his birthday from his family. He wishes to buy a motorcycle and decides to use his birthday money towards it. He'd like to have a bigger down payment so he invests his money...
-
Solve 8 0 8x = x dx -
-
write a Python program that uses recursion to find the sorted (ascending order) prime factors of an input. A simple way to test primality of a number n is to iterate through integers from 2 to n...
-
How does the cost accounting function assist in the management of a business?
-
Outline a general process applicable to most control situations. Using this, explain how you would develop a system to control home delivery staff at a local pizza shop.
-
In 2020-21, a taxpayer makes a number of disposals, as listed below. Which of these disposals would be exempt from CGT? (a) An antique table sold for 5,000. (b) A watercolour painting sold at...
-
Karen bought a house in 1993 for 42,000. In November 1994 she spent 18,000 on dividing the house into two self-contained flats. In September 2018 she sold one of the flats for 95,000, at which time...
-
Jon bought a chargeable asset for 23,000 in May 1979. He incurred enhancement expenditure of 10,000 in June 1981 and a further 14,000 in July 1998. The asset was valued at 58,500 on 31 March 1982 and...
-
Compute the return on investment (ROI) for an investment that generated a profit of $50,000 with an initial investment of $200,000. Calculate the working capital for a company with current assets of...
-
A whole life insurance of 50 is issued to (r). The benefit is payable at the moment of death. You are given that the pdf of the future lifetime, Tr, for (a) is t fx(t) if 0 t 100 and fx(t) = 0...
-
Consider the following table: Stock Fund Bond Fund Rate of Return Rate of Return 2018. -41% -18% 2019 2020 -11.0% 14% 8% 5% 2021 34% 6% c. Calculate expected return and standard deviation of...
Commanding Old Ironsides The Life Of Captain Silas Talbot 1st Edition - ISBN: 1493077880 - Free Book
Study smarter with the SolutionInn App