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open tuition questions chapter 2 tax computations

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › open tuition questions chapter 2 tax computations

  • This topic has 2 replies, 2 voices, and was last updated 9 years ago by angelamalta.
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  • January 12, 2016 at 3:53 am #294160
    angelamalta
    Member
    • Topics: 28
    • Replies: 82
    • ☆☆

    Hi tutor,
    Hope you are well.
    The first example of the tax computations gave us the individuals dob so we could calculate the correct personal allowances however the subsequent questions I worked did not specify the dob even though a personal allowance was included in the calculation. In the actual exam will a d.o.b. always be given if the question relates to an individual or sole trader? Thank you.

    January 13, 2016 at 5:33 pm #294407
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    In preparing the income tax computation for an exam question it is most likely that the d o b will be provided so that you can indeed correctly determine whether the higher level personal age allowance is available. If this information was not provided you would simply assume that the taxpayer was born post 5 April 1948 and the normal PA was available subject to the level of adjusted net income that you compute in your answer.

    January 14, 2016 at 6:07 am #294456
    angelamalta
    Member
    • Topics: 28
    • Replies: 82
    • ☆☆

    Thanks for the response.

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