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CHP 5 Employment Income CW

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20 views4 pages

CHP 5 Employment Income CW

Uploaded by

gourirajesh10
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CHP 5 : EMPLOYMENT INCOME PART A

Q1) Adrien, is a marketing manager and is employed by Drums Ltd. During the tax year 2023/24 she incurred the following e

ans a. income
b. not an income
c. income
d. not an income
e. not an income

Q2) Joseph has travelled 12,000 business miles in the tax year 2023/24, in his own car. His employer pays him 42p per mile f
(a) Calculate how much of the mileage allowance is taxable.
(b) Explain how your answer would differ, if Joseph’s employer paid 35p per mile.

ans a. allownace provided by employer 5040


tax relief (AMAP) 5000

mileage allowance taxable 40

b. allownace provided by employer 4200


tax relief ( AMAP) 5000

mileage allownace deductable -800

Q3) Kate uses her own 1800 cc motor car for business travel. During 2023/24 she drove 15,000 miles in the performance of

ans allowance provided by employer 4500


AMAP 5750

mileage allowable deductions -1250

Q4) U is employed as an insurance salesman at a monthly salary of £950. In addition to his basic salary, he receives a bonus
Bonus for year to: Paid during: £
31 October 2020 May 2021 1,920
31 October 2021 May 2022 1,260
31 October 2022 May 2023 2,700

U made the following payments in respect of his employment in the tax year 2023/24
Contribution to occupational pension scheme 342
Subscription to Chartered Insurance Institute 100
Payroll deduction scheme (in favour of Oxfam) 200
Compute U's assessable income from employment for the tax year 2023/24.

ans Computation of U's income from employment


salary 11400
bonus 2700

less allowable deductions


Pension scheme -342
Subscription -100
Payroll deductions -200

EMPLOYEMENT INCOME 13458

Q5) Jack and Jill

ans JACK
date of receipt is the earlier of
a.actual payment 28-Apr-24
b.entitlement date 15-Apr-24
c.credited date 10-Mar-24
d.determined date 31-Mar-24

therefore the date of receipt for jack is 10 march 2024 and the tax year is 2023/24

JILL
date of receipt is the earlier of
a.actual payment 30-Apr-23
b.entitlement date 31-Mar-23

therefore the date of receipt for Jill is 31 march 2023 and the tax year is 2022/23
e incurred the following expenses in connection with her employment, all of which were reimbursed by Drums Ltd.

er pays him 42p per mile for each business mile.

es in the performance of her duties. Her employer pays her 30p per mile. Compute the allowable deduction that the Kate can claim agai

lary, he receives a bonus that is paid in May each year, and relates to the sales he achieved in the year to the previous 31 October.
n that the Kate can claim against her employment income.

he previous 31 October.

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