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Personal Tax

A-VicA-Vic Expertise GuaranteedRegistered Posts: 6,970
Hi All

A bit of a worky question

For the first time ive been asked to attempt accounts and tax comp for a client.

Now ive managed to do the accounts but getting stumped on the tax

1 Taken employment from P60's (inclusive of tax) provided and tax credited to the tax paid is that correct?

2 Pension - it shows the client recived a weekly amount of 70.48 so i just x by 52 ?

3 Interest - what percentage is tax? (one is gross one is net)

4 Dividends - this is paid so i just need to gross it up by 10%?.

Sorry i know i should know this but i need to double check this is right as it is for work would love to get it right.

Thanks in advance

Vic

Comments

  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    If i said pretty please would anyone know?
  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    ok ive worked out 1 3 and 4

    But do i need to do anything with pension as far as PAYE is concerned ?
  • DiannewDiannew Font Of All Knowledge Registered Posts: 2,814
    A-Vic wrote: »
    ok ive worked out 1 3 and 4

    But do i need to do anything with pension as far as PAYE is concerned ?

    I don't know a great deal on this A-Vic...but is the client recieving a private or goverment pension.....because I think if it is a private one sometimes the tax is deducted at source...do they not have a statement from their pension provider ?
  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    Diannew wrote: »
    I don't know a great deal on this A-Vic...but is the client recieving a private or goverment pension.....because I think if it is a private one sometimes the tax is deducted at source...do they not have a statement from their pension provider ?

    Nope its a govenment pension not private so i guess they will work out the tax as far as that is concerned
  • DiannewDiannew Font Of All Knowledge Registered Posts: 2,814
    A-Vic wrote: »
    Nope its a govenment pension not private so i guess they will work out the tax as far as that is concerned

    So then it is unearned income and they will have to pay full tax on it providing all their other income takes them over the tax free allowance...I may be wrong Hun...but just trying to help..x
  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    Diannew wrote: »
    So then it is unearned income and they will have to pay full tax on it providing all their other income takes them over the tax free allowance...I may be wrong Hun...but just trying to help..x

    Thats what i was thinking too thanks hun :)
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