Unit 30 Revenue and Customs Taxation - Level 5 BTEC HND in Business

Program: BTEC Higher National Diploma in Business

Unit Name: Unit 30 Revenue and Customs Taxation

Level: Level 5

Task 2
Part A- Income from Self - employment
2. Write a memorandum report advising Paul of the latest dates by which his self - assessment tax return for the tax year 2015 -16 should have been filed in order to avoid a penalty.

Part B - Income from Employment
1. Calculate the income tax due by Beth for the period 2015 - 16.

Task 3
Required

1. Calculate the taxable total profits for the year.
2. Calculate tax liabilities and due payment dates
3. Explain how income tax deductions are dealt with

Task 4
Part A
Required:

1. Calculate Grant's capital gains tax liability for the tax year 2015-16.
2. Explain why it would have been beneficial for capital gains tax purposes if Delroy had instead sold the 25,000 shares in Dub Ltd himself for £240,000 on 10 June 2015, and then gifted the cash proceeds to Grant.

Part B
Required:

1. Calculate Marlon's chargeable gain for the tax year 2015-16.
2. Calculate the amount of capital gains tax which could have been saved if Marlon had transferred 50% ownership of the house to Alvita prior to its disposal.

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