BTX - Total Tax Liability

mrderek88
Registered Posts: 44 💫 🐯 💫
BTX is not my forte!
Explanation of the answers attached if anyone can help, please?
Derek
Explanation of the answers attached if anyone can help, please?
Derek
0
Comments
-
Hi mrderek88
With payment on accounts and balancing payments I find it easier to draw a table as below:
Tax year
Tax liability
31/07/2011
31/01/2012
31/07/2012
31/01/2013
31/07/2013
31/01/2014
31/07/2014
2010/11
14500
?
?
2011/12
17300
7,250 (1)
7,250 (1)
2,800 (2)
2012/13
21450
8,650 (1)
8,650 (1)
4,150 (2)
2013/14
?
10,725 (1)
10,725 (1)
Total tax to pay
?
?
7,250
11,450
8,650
14,875
10,725
(1)
Payments on account 50% previous year's tax liability (on 31st Jan/31st July)
(2)
Balancing payment due 31st Jan following the end of the tax year
Hope this helps,
MN0 -
Hi MN
Thank you so much for that. That's such a better way to do it than I was doing. It works!
Cheers0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 234 NEW! Qualifications 2022
- 133 General Qualifications 2022 discussion
- 7 AAT Level 2 Certificate in Accounting
- 31 AAT Level 3 Diploma in Accounting
- 55 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 91 Software
- 272 Tax
- 135 Bookkeeping
- 7.3K General accounting discussion
- 201 AAT member discussion (AATQB, MAAT, FMAAT and AAT Licensed Accountants and Bookkeepers)
- 3.8K For everyone
- 39 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 586 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 47 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership