business tax workbook practice assessment 2 task 6

kelly2021
kelly2021 Registered Posts: 16
Hello

Can anyone please help me with this one?

Why the amount on payment date 31 Jan 2021 is 4800? Thank you so much!

Best Answer

  • Pian32
    Pian32 MAAT Posts: 472
    Answer ✓
    So for January you have the remaining payment for the 19/20 year and the 1st payment on account for the 20/21 year.

    The payment on account is:
    13,500/2 = £6750

    For the remaining payment you take the amount due and subtract previous payments on account (which also equals the tax due in the previous year in this question)

    13,500 - 15,450 = -1,950

    Total due:
    6,750 - 1,950 = £4,800
    AAT Level 4, MAAT
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