Personal Tax

Cookiex
Cookiex Registered Posts: 9 Regular contributor ⭐ ? ⭐
Hello everyone. Can someone please help me with a question from Practice Cbt 1 Fa 2009

Joanne provides you with the following information:

Her annual salary for the twelve months to 30 June 2010 was £17,400

Her annual salary for the twelve months to 30 June 2011 was £19,440

She received a bonus of £876 on 14 April 2010 based on the company's accounting profits for the year ended 31 March 2010.

She received a bonus of £960 on 17 April 2011 based on the company's accounting profits for the year ended 31 March 2011.

She receives a 5% commission per year on her salary.

What is the salary taxable for 2010/11

What is the bonus taxable for 2010/11

What is the commission for 2010/11

Thank you

Comments

  • Daz1865
    Daz1865 Registered Posts: 67 ? ? ?
    Its been a while since I've done this but this is how I would answer it

    April 2010 - March 2011

    So that is 3 months from the first year. 17400/12*3 = 4350
    9 months from the following year. 19440/12*9 = 14580
    Salary for the year = 18930

    Bonus is taxed on the year it was recieved, so it would be 876

    Commision, I guess would be 5% of 18930. 946.50.
  • clegganator
    clegganator Registered Posts: 184 ? ? ?
    Daz1865 wrote: »
    Salary for the year = 18930
    Bonus is taxed on the year it was recieved, so it would be 876
    Commision, I guess would be 5% of 18930. 946.50.

    Looks about right to me!
  • Cookiex
    Cookiex Registered Posts: 9 Regular contributor ⭐ ? ⭐
    Thank you Daz1865!
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