Tag Archives: taxable income

Ben has a meeting on 15th May 2020, with a huge name in the sports industry. He is expecting that meeting to result in an order for £100,000, which he would need to deliver and invoice within a very tight two-week deadline. Explain how this would impact on Ben’s requirement to register for VAT.

Question 1 Darcy For the tax year 2019/20, Darcy has a trading profit of £158,000. During the year he made personal pension contributions of £30,000 and a net gift aid donation of £8,600. Ahmed Ahmed had a salary of £52,500 and saving income of £1,800. His employer has deducted £7,800 in PAYE from his earnings. […]