Income Tax Computations

Income Tax Computations

by | Feb 26, 2022 | Uncategorized

When preparing the income tax return, income and expenses must disclosed accurately. One of the guaranteed areas in any tax exam is an income tax computation. The important thing is to tax income in the right order-first non-savings, then savings and finally dividends...
Inspiring Excellence In Ernesta

Inspiring Excellence In Ernesta

by | Feb 24, 2022 | Uncategorized

It is natural for us to stay in our comfort zones and not stretch ourselves. Our brains are hardwired to seek pleasure and to avoid pain. When I lecture intelligent students like Ernesta, I encourage them to stretch themselves and do more. When sitting professional...
Agricultural Property Relief

Agricultural Property Relief

by | Feb 22, 2022 | Uncategorized

One area I am expecting to come up in The Advanced Tax exam is agricultural property relief . Why not check out my latest article from PQ magazine Keep It Simple series?With all the key points covered in straightforward exam-style scenarios, by working through the...
Sole Trader Trading Losses

Sole Trader Trading Losses

by | Feb 11, 2022 | Uncategorized

Income tax trading loss questions feature regularly in the tax exams, and it is an area most students struggle with despite it being fairly logical. The trading loss can be offset against the total income of either the current or the previous tax year so will result...
Capital Allowances

Capital Allowances

by | Feb 11, 2022 | Uncategorized

In every tax exam, you can expect a question on capital allowances. Capital allowances are tax depreciation which can be claimed on assets that are functional and used in the business. The assets that a business can claim allowances include machinery, cars,...