I posted the questions, section a is a multiple choice section, section b requires answering while showing your work and section c is an essay question. I have uploaded the questions and other material that would help the expert solve the assignment such as tax data etc...
Section a Section b Section c TAX DATA 2019/2020 FINANCE ACT 2019 HMRC OFFICIAL INTEREST RATE 2.5% INCOME TAX 1.THE RATES IN FORCE ----------------------Rate (%) ---------------------- Chargeable SavingsNon-savingsDividend Income (£)IncomeIncomeIncome Starting rate to 5,0000 Basic rateto 37,50020 20 7.5 Higher rateto 150,00040 40 32.5 Additional rateover 150,00045 45 38.1 2.SUMMARY OF ALLOWANCES £ Personal Allowance12,500 Savings Allowance (Basic rate taxpayer) 1,000 Savings Allowance (Higher rate taxpayer) 500 Dividend Allowance 2,000 3.BENEFITS IN KIND - MOTORING i) Car benefit Not exceeding 50g/km16% 51g/km to 75g/km19% 76g/km to 94g/km22% 95g/km23% Each additional 5g/km1% Plus 4% if diesel Maximum37% ii)Provision of private fuel for cars Base figure£24,100 iii)Vans. Basic charge£3,430 Private fuel charge£655 Zero emission vans£2,058 iv) Authorised mileage rates Tax free allowances: First 10,000 miles - 45p per mile Over 10,000 miles – 25p per mile 4.PROPERTY INCOME Property Income Allowance £1,000 Rent a room relief £7,500 maximum CAPITAL GAINS TAX Standard rate10% (18% for residential property) Higher rate20% (28% for residential property) Annual exempt amount£12,000 CORPORATION TAX THE RATES IN FORCE FY201819% FY201919% CAPITAL ALLOWANCES AND RELIEFS 1.Writing down allowance % - Main pool of plant and machinery 18 - Special rate pool of plant and machinery 6 2.Annual Investment Allowance (AIA) · Annual limit (from 1/1/19) £1,000,000 · AIA rate 100% 3.First Year Allowance (FYA) on qualifying plant and machinery - Very low emission cars (up to 50g/km)100% - Zero-emission goods vehicles 100% - Energy saving or water efficient technology100% - Electric vehicle charging points100% NATIONAL INSURANCE CONTRIBUTIONS Per year £ Class 1 (not contracted out) Employee: Primary threshold 8,632 Upper earnings limit (UEL) 50,000 Contributions: 12%, on earnings between the primary threshold and the UEL and 2% on earnings above the UEL. Employer: Secondary threshold 8,632 Contributions: 13.8% on earnings above the secondary threshold. Class 1A contributions 13.8% Self Employed: Class 2 Contributions: £3.00 per week Small earnings exception £6,365 Class 4 Per year Lower profits limit (LPL) 8,632 Upper profits limit (UPL) 50,000 Contributions: 9% on profits between the LPL and the UPL and 2% on all profits above the UPL. VALUE ADDED TAX Standard rate 20% Registration threshold £85,000 Deregistration threshold £83,000