Question 1ii
Marking Guide
| (ii) Additional tax adjusted trading profit – strategy A Additional turnover Salary, class 1 NIC and overheads Recoverable input tax Additional tax adjusted trading profit – strategy B Additional turnover and fee paid to Tor Ltd Recoverable input tax Conclusion Additional post-tax income Taxable income Income tax and class 4 NIC on trading income Income tax on interest income Remainder of calculation | - 0·5 2 3 - 1 3 1 - 3 2·5 1 3 | |
| 20 | 17 |