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- This topic has 2 replies, 2 voices, and was last updated 7 years ago by jingdong.
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- August 31, 2016 at 8:54 am #336489
Dear Tutor, would you please help me about this question.
Gareth’s tax payment for 2014/15 and 2015/16 is as follows:
…………………………………………………………..2014/15…………………….2015/16
Income tax ……………………………………………10,000 …………………….12,500
Class 2 NIC ………………………………………………143………………………….146
Class 4 NIC…………………………………………… 2,000……………………….2,500
Capital gains tax …………………………………….1,000………………………..2,000
Gareth always pays the correct amout of tax on each due date.
what is the amout payable by Gareth to HMRC on 31 January 2017 in respect of the tax year 2015/16?
the answer is 5146, but based on the note , there should be another payment which is payable to HMRC, (12,500+2,500)/2=7,500.
please help me.
many thanksSeptember 1, 2016 at 4:09 am #336665Here you need to be careful about reading the precise question asked – the question asks for the amount payable in respect of the tax year 2015/16 it does NOT ask for the total payment required on 31 January 2017, which would then include the first payment on account in respect of the 2016/17 tax year!
September 1, 2016 at 11:36 am #336769thank a lot
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