• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exam Results

Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2025 exams.
Get your discount code >>

June 2015 Question 3

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › June 2015 Question 3

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • November 26, 2015 at 7:54 am #285354
    bunny
    Member
    • Topics: 2
    • Replies: 0
    • ☆

    can someone please clarify these doubts that i have of qn 3 june2015 paper

    when a business is incorporated is it no longer self employment?

    And the remuneration given of $18000, why is class 1 of NIC calculated. Isnt he the owner of the business?

    November 26, 2015 at 1:39 pm #285465
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    When an unincorporated trader incorporates their business the individual becomes an owner manager of their company. The company is then charged to corporation tax on its adjusted trading profit and the individual is charged to income tax on the salary paid to him / her by the company, hence the remuneration you state above has class 1 employee NIC imposed upon it, as it is a salary – the company will also have to pay employers class 1 NIC.
    The owner may also pay themselves a dividend which is not tax deductible for the company but is of course taxed as dividend income for the owner.
    The company is a separate taxable person to the individual.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • AdityaSairam on Overcapitalisation and Overtrading – ACCA Financial Management (FM)
  • verweijlisa on Financial performance – Example 2 – ACCA Financial Reporting (FR)
  • John Moffat on Linear Programming – Spare capacity and Shadow prices – ACCA Performance Management (PM)
  • John Moffat on The Statement of Financial Position and Income Statement (part d)
  • Salexy on Linear Programming – Spare capacity and Shadow prices – ACCA Performance Management (PM)

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in