Forum Replies Created
- Posts
Hi,
this is very simple.
Max limit per year given is 50 000 (this for occupational / personal contributions made by either employee or employer)In order to calculate amount that is valid for tax relief in fiscal year you must take the the greater figure from:
1) 3600 (by default available to everyone)
2) 100% of relevant earnings (which is employment income + trading income + income from FHL)Also please note. If person hasn’t used 50 000 from 3 previous year he can use it !
I advise you to look at question # 1 from June 2013. That’s a good example.
is it correct to present it in this way at the exam ?dividend 27 778
total income 27 778
less PA -8 105
taxable income 19 673
dividend 1 967
tax liability 1 967
Less:
Tax deducted at source: -2 778
tax liability nil*The three-track system (mainly of relevance to contract (and tort claims)
in the County Court and the High Court)
On receipt of a claim, the court will allocate the case to one of three tracks for the
hearing.
The County Court hears all cases allocated to the small claims track, the majority of
fast track cases and some multi-track cases. The High Court hears some fast track
cases and most multi-track cases.
?
The small claims track is for simple claims valued at no more than £5,000
(tort £1,000). The hearing is informal, there are limited grounds for appeal
and costs of lawyers are not usually awarded.
?
The fast track provides a streamlined procedure for moderately-valued
claims (£5,000 to £25,000).
?
The multi-track provides a flexible procedure for high value (over £25,000)
and/or complex claims.memorize all definitions ideally rememember cases to use them as examples in your answer.
Hi, yes
2 ways:
1) a sales return t account is used its simply:
dr returns in
cr cash/receivablesor
2) a sales t account is used its simply:
dr sales in
cr cash/receivablesHi, yes it comes from sales.
In f3 there are mostly two types of sales
1) cash sales. Double-entry: dr cash & cr sales
2) credit sales. Double-entry: dr receivables & cr salesYes, sales must deducted of returns. Double-entry: dr sales & cr receivables or cash.
It does not include bad-debt write-off.
Hope im clear
Hello,
I’m afraid the correct answer is C $210,000 outflow
1. Purchases of non-current assets -240
2. Sales proceeds of non-current assets 30TOTAL CASH FLOW -210
sorry I do not understand how there can be any profit if we speak ONLY ONE BUSINESS ENTITY though it has two own shops?
please explain