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Lyvia-L
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Hi Tutor,
Q1. (e) Co. sells factory for £750,000 bought for £250,000 3 years ago.
My answer corp. tax + capital gains tax
Why isn’t capital gains tax charged in the answer? Factory is an asset.
Q2. NI — employers pay NI for their employees even employees pay their own NI already? Are they the same amount?
Thanks
Ly
Tax Tutor
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Q1. No – companies do not pay CGT – see study notes chapter 1, page 1, section 2
Q.2 No they are not the same amount – and the details of NIC will be dealt with later in your studies in chapter 11
Lyvia-L
Tax Tutor
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