Shilpa tinot a director) receives a monthly salary of £3,500 from her employer, Larimar Ltd, where she is employed as a tax adviser. In addition, she received the following bonuses: Received: 31 May 2020 31 May 2021 Relates to: Larimar's profits for y/e 30 November 2019 Larimar's profits for y/e 30 November 2020 Bonus: £3,750 £4,375 Shilpa made the following payments in respect of her employment for the tax year 2020/21: Subscription to golf club solely for the use of entertaining clients Fees to CIOT (Chartered Institute of Tax) £ 1,200 450 Train ticket from home to normal place of work New suit for office Home telephone bill ti£40 business calls; £140 private; £20 line rental) 200 Calculate Shilpa's employment income for tax year 2020/21. 20 250

Shilpa tinot a director) receives a monthly salary of £3,500 from her employer, Larimar Ltd, where she is employed as a tax adviser. In addition, she received the following bonuses: Received: 31 May 2020 31 May 2021 Relates to: Larimar's profits for y/e 30 November 2019 Larimar's profits for y/e 30 November 2020 Bonus: £3,750 £4,375 Shilpa made the following payments in respect of her employment for the tax year 2020/21: Subscription to golf club solely for the use of entertaining clients Fees to CIOT (Chartered Institute of Tax) £ 1,200 450 Train ticket from home to normal place of work New suit for office Home telephone bill ti£40 business calls; £140 private; £20 line rental) 200 Calculate Shilpa's employment income for tax year 2020/21. 20 250

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

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