help me in BTC ???
snowrosee84
Registered Posts: 8 New contributor 🐸
i try to resolve btc exam jun 2010
in task 1.3
Calculate the assessable profits for Olivia for the tax years 2009/10 and 2010/11. Clearly show all relevant dates, and show the amount of overlap profits.
i need to know how we answer it like this
they answer it as:
£
2009/10
1 May 2009 to 5 April 2010
Nine months to 31 January 2010 33,570
2 months from year ended 31 January 2011 = 2/12 x £87,000 14,500
______
48,070
2010/11
Year ended 31 January 2011 87,000
Overlap
2 months from year ended 31 January 2011 = 2/12 x £87,000 14,500
i really Confused on 2009\2010 how they solve it
plz help??
in task 1.3
Calculate the assessable profits for Olivia for the tax years 2009/10 and 2010/11. Clearly show all relevant dates, and show the amount of overlap profits.
i need to know how we answer it like this
they answer it as:
£
2009/10
1 May 2009 to 5 April 2010
Nine months to 31 January 2010 33,570
2 months from year ended 31 January 2011 = 2/12 x £87,000 14,500
______
48,070
2010/11
Year ended 31 January 2011 87,000
Overlap
2 months from year ended 31 January 2011 = 2/12 x £87,000 14,500
i really Confused on 2009\2010 how they solve it
plz help??
0
Comments
-
For the first year of trading the assessable profits will always be from the date of trading to 6th April.
Therefore in this case for 09/10 you have to calculate the profits from 1 May 09 - 6 April 10.
The profits from 1 May 09 - 31 January 10 are 33570.
You then have to calculate the profits from 1 Feb 10 to 31st March 10.
The profits for the y/e 31 Jan 11 are 87000 - therefore 2 months will be 2/12 x 87000 = 14500.
33570 + 14500 = 48070.
I find this topic difficult but this article really helped me!
http://www.tolleytraining.co.uk/miscellaneous/demos/BT%20demo%20-%20Manual%20Ch%205.PDF0 -
the profits from 1 May 09 - 6 April 10 >>> it's for 11 months
why we do not calculate : 33750*11\12=30937.5
how you choose this period "The profits from 1 May 09 - 31 January 10 are 33570"??
any stander ruls for the period??
thanks alot for ur replay0
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