Andrew has been soll employed as a builder for several years and generated taxable trading profit of E82,000 inthe 2020/21 an year, He has trading losses brought forward of £10,000.His partne Sophio works part time as a mobilc dog groomer and has taxable trading profit of £10,560 for the taxvear 2020,2XWoat are the tetai NICs payable by Andrew and Sophie for the tax year 2020/21?E160

Since tax rates not given, Taken from official sites, Since profits are above £9,569,therefore…

Andrew has ben soll employed as a builder for several years and generated taxable trading profit of £82,000 in the 2020/21 an year, He has trading losses brought forward of £10,000. His partner Sophie wurks part time as a mobilc dog groomer and has taxable trading profit of E10.560 for the tax vear 2020,2 What are the tetai NICx payable by Andrew and Sophie for the taxyear 2020/21?

Andrew has ben soll employed as a builder for several years and generated taxable trading profit of £82,000 in the 2020/21 an year, He has trading losses brought forward of £10,000. His partner Sophie wurks part time as a mobilc dog groomer and has taxable trading profit of E10.560 for the tax vear 2020,2 What are the tetai NICx payable by Andrew and Sophie for the taxyear 2020/21?

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 27P

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