BTX - Total Tax Liability
mrderek88
Registered Posts: 44 Epic contributor 🐘
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
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership