Quick tips for tax?

This topic has 2 replies, 2 voices, and was last updated 15 years ago by acstudent.

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February 23, 2011 at 12:16 pm #47530
acstudent
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i.e. if entire basic rate band is used by non-savings

37400 @ 20% is always 7480 so you don’t need to work it out

what else is like this?
February 24, 2011 at 1:57 pm #79012
l_ACCA
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Do you mean something like this?:

If adjusted net income exceeds £112,950 and there are no pension contributions or gift aids, then don’t bother calculating personal allowance because it’s ZERO.

I just read first 6 chapters in BPP text book so I don’t know any more quick tips. Maybe there will be something in corporation tax.

Would be interesting if some people reply with really good “time saving” tips.

oh… BTW, I had a question. When you write your answers in exam do you have to write:

Non Savings Income
Savings Income
Dividends income
Personal Allowance
Personal Age Allowance

or can you just use abbreviations, i.e.:
SI
NSI
DI
PA
PAA?

I think abbreviations like that are real time savers.
February 26, 2011 at 8:57 pm #79013
acstudent
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Yes that is exactly what I mean

I think you are supposed to make it look professional so use full terms (unless short of time then abbreviate so you can finish the question in time!)
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