During 2023-24, an employee earns 5,000 per month. (a) Calculate the total primary Class 1 NICs payable

Question:

During 2023-24, an employee earns £5,000 per month.

(a) Calculate the total primary Class 1 NICs payable for the year.

(b) What would total primary contributions be if the employee received £60,000 on 6 April 2023 and nothing in the remaining 11 months of the year?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

See More Books

Question Posted: May 02, 2024 10:01 AM

See More Questions

The motor draws in the cord at B with an acceleration of a B = 2 m/s 2 . When s A = 1.5 m, v B = 6 m/s. Determine the velocity and acceleration of the collar at this instant. 2m Nambay SA A B OF
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...
During 2017-18, an employee earns 4,000 per month. (a) Calculate the total primary Class 1 NICs payable for the year. (b) What would the total primary contributions be for t he year if the employee...
An analyst predicted the following: 1. Sales of $1,276 million. 2. Core profit margin of 5 percent. 3. Asset turnover of 2.2. 4. Core other operating income and unusual items are zero. The firm's...
Use the data in Short Exercise S12-10 to prepare Millbrook Golf Club, Inc.'s, statement of cash flows for the year ended June 30, 20X9. Millbrook uses the direct method for operating activities. Use...
Explain what the 'retesting' of share options means.
Marketing variances An automobile dealer sells three models of automobiles. The dealer has established standards for sales and costs. Below are standard and actual data for the first quarter of 1992....
Grady Enterprises manufactures three computer games. They are called Rising Star, Ghost Master, and Road Warrior. The product line data are as follows: The current production capacity is 110,000...
Come - Clean Corporation produces a variety of cleaning compounds and solutions for both industrial and household use. While most of its products are processed independently, a few are related, such...
Rework the previous example, given that the employee in question is a company director.
Compute the secondary Class 1 NICs payable in relation to each employee in Example 1 above. Assume in each case that the employee concerned is not subject to any of the upper secondary thresholds....
Appellants-plaintiffs Marie H. Corner, et al. (plaintiffs), appeal from a judgment granted in favor of appellees-defendants Patrick D. Mills, et al. (defendants), in an action to declare certain...
On the 1st of January, David by three separate letters which he posted to Ann, Bev and Cathy informed them that he was selling his 2004 BMW car for $1M. He stated in the letter that the offer would...
Case 2-Prestige Dance Academy- Page 473 Answer all the case study questions Case 2-Noise Solutions Inc.- Page 467 Answer all the case study questions Case 1- The Ultimate Garage- Page 461 Answer all...
(1.1) Determine whether the system QUESTION 1 x+y+x+y= 2e3t +y 3x-3y = et, is degenerate. In the degenerate case, decide whether it has no solution or infinitely many solutions. If it has no...
execution. For the MIPS code below, what will be the contents of resister $t0 after addi $s0, $zero, OxA2 addi $s1, $zero, Ox3C sltu $to, $s1, $s0
1-50. Compute the stress in member BD shown in Figure P1-50 if the applied force F is 2800 lb. Foo 30 45 Fe = 2800 LB
Suppose you were asked to prepare a cultural analysis for a potential market. What would you do? Outline the steps and comment briefly on each.
The cost curve for the city water supply is C(Q) = 16 + 1/4 Q2, where Q is the amount of water supplied and C(Q) is the cost of providing Q acre-feet of water. (An acre-foot is the amount of water...
Answer only when know.. 5 0 6 .
Members of the board of directors of security team
Standard Costing at Ford Motor Company Ford Motor Company is assessing its labor costs. Values: Item Standard Rate Actual Amount Labor Cost (per hour) $35 $38 Hours Worked 10,000 12,000 Requirements:...

During 2023-24, an employee earns 5,000 per month. (a) Calculate the total primary Class 1 NICs payable

Question:

Step by Step Answer:

a Primary contributions each month are equal to 12 4189 1048 2 5000 4189 3931...View the full answer

Taxation Finance Act 2023

Students also viewed these Business questions