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Thankyou Sir!
In case of class 1 Nic payable by employees and employers
I saw a ques in exam kit in which the limits of 9500 and 8788 were converted into monthly limits because employee was employed for 4 months only from dec 20 to end of 20/21 tax year, so 792 and 732 were used instead. ?What do we do in such cases ?
Also the same ques had a 2nd part in which the employee was taken up as a partner instead, but the limits were not converted into months there.
( Ques refrence – bpp rev kit 98 bayle)If lease rentals are payable in advance for 3 years at T0, T1 and T2 ; and tax is payable in one year arrears,
In which year the tax savings on lease rentals appear and why ?In the book it is in T2,T3 and T4 which at first glance looks like a two year arrear
Is the reason same as TAD which you just mentioned , i.e. tax savings on lease payments will be calculated at the end of T0 which means it will be occur at the end of T1 (one year arrear) which is T2 starting?
No worries I will look into it. Thanks for replying.
If I study from the open tuition notes completely , will I face any major challenges in doing bpp revision kit questions?
Sometimes the Kaplan Study Text can be too time consuming and stressful, it repeatedly states the same fact atleast 3 times.
