Q

Calculate the taxable total profits for the year

Unit 30 Revenue and Customs Taxation Assignment Help - Unit 30 Revenue and Customs Taxation, Level 5 BTEC HND in Business
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Program: BTEC Higher National Diploma in Business

Unit Name: Unit 30 Revenue and Customs Taxation

Level: Level 5

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Task 2
Part A- Income from Self - employment

Question: 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
Question: Calculate the income tax due by Beth for the period 2015 - 16.

Task 3
Required

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

Task 4
Part A
Required:

Question 1. Calculate Grant's capital gains tax liability for the tax year 2015-16.
Question 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:

Question 1. Calculate Marlon's chargeable gain for the tax year 2015-16.
Question 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.

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

Unit 30 of the Level 5 BTEC HND in Business dives into the complexities of the UK tax system, equipping you with a comprehensive understanding of its impact on businesses. This unit goes beyond basic tax calculations, delving into the strategic implications of taxation for business decision-making.

Key areas of focus may include:

Understanding the UK tax system: You'll explore different types of taxes like income tax, corporation tax, VAT, and customs duties, analyzing their impact on businesses of various sizes and structures.
Tax legislation and compliance: You'll gain insight into key tax legislation and regulations, learning how to accurately calculate and submit tax returns while ensuring compliance with HMRC requirements.
Tax planning strategies: You'll develop essential skills for tax planning, analyzing available legal methods to minimize tax liabilities while adhering to ethical and legal guidelines.
Impact of taxation on business decisions: You'll critically evaluate how different tax considerations influence business decisions, including investment, financing, operational strategies, and international trade.
Recent tax developments and their implications: You'll stay updated on the latest tax reforms and changes, analyzing their potential impact on businesses and adapting strategies accordingly.

Learning outcomes could include:

  • Calculating and preparing various tax returns for different business types.
  • Advising businesses on legal and ethical tax planning strategies.
  • Critically evaluating the impact of taxation on business decisions.
  • Maintaining compliance with HMRC regulations and legislation.
  • Demonstrating a comprehensive understanding of the UK tax system and its application to businesses.

By mastering the intricacies of Unit 30, you'll gain valuable expertise in business taxation, preparing you for a career in accounting, finance, or other business-related fields where tax knowledge is crucial.

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