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## Comments

9538814814part of the lease is a disallowable expense since the car was costing more than £15000

95111I was a bit confused with the part disposal.

The land (20acres) cost 100.000 when bought. Part of it was sold for 150.000 (5acres) and rest of it was valued for 500.000. Logically if 20 acres cost 100.000 so 5 acres should have cost 25.000

but when you do the calculation 100.000 * 150.000/650.000 you get 23077.

So I put

Proceeds ......150.000

cost .............23.077

indexation.......13177

23.077 x 0.571

gain.............. 113.177

I was so confused...

95238yes i did that too with the salary...

9529the first 6 months the original person (can't remember the name) got all of the profits.

in the second 6 months when the other person joined. the original person got 10,000 of salary. then split the remaining profit in half for the 2 owners.

does that make sense?

373Yes, thats what I did

111With the profit share..

I have split it up in two 6 and 6 months. And the second part divided between two partners. Emily was also entitled to receive 10.000 as her salary from the profit...

373I think that is the same answer as mine - I remember my tutor telling me that you calculate part disposal of land on value, and not on the acres.

7838cost .............23.077

indexation.......13177

23.077 x 0.571

gain.............. 113.177

I got the same but the gain works out at 113746

Proceeds less cost less indexation..

2373She only started receiving a £20k salary in November, so needed apportioning to 6 months.

29did you half the limits twice. or divide the limits by 3 as there were 2 associates?

111Proceeds less cost less indexation..[/QUOTE]

yes, you are right.. sorry for speeling mistake.. it should have been 113.746

787810Also think i messed up the marginal relief, do u time apportion the upper and lower limits to use in the calculation.

e.g for upper band 1500000/3 X 9/12?? giving u a upper limit of 375000?

i'm stressin as i'm pretty sure i messed up the part disposal and the date questions....

38just panicking cos i think i have made some quite random errors ...

8111and Profits as 458 516

For the 3 months period I had

113.129 x 30% - 256 = 33 683

For the 9 months period I had

339 387 x 28% - 537 = 94 491

Tax 33 683 + 94 491 = 128 174

9529my tax seemed really high but i'm sure i did all the formula correctly!

i did the same with the limits. divided them by 3 then time apportion them (3/12 and 9/12) I think i messed the same things up as well!

958