Tx notes fa22 Final

Compute Osbourne’s Income Tax liability for 2022/23. 
18. Tony 
Tony is in business as a baker, and prepares accounts to 31 March each year. He has given you the 
following information:
1.
His trading income for the year ended 31 March 2023 was £18,479.
2.
Tony employed Jack and Jill during 2022/23. Their gross wages were £18,200 and £12,480 
respectively. 
Jack’s and Jill’s wages and employer’s NIC are already accounted in the profit figure which Tony has 
given you.
You are required to calculate the following: 
(a)
The total Class 1 NIC payable for 2022/23. 
(b)
The Class 2 and Class 4 NIC payable by Tony for 2022/23.



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19.
 
Chorley Ltd 
Chorley Ltd runs a small printing business and the managing director wishes to know the amount of 
the companies’ Adjusted trading profit for the year ended 31 December 2022.
Notes
1.
The profit on the sale of premises relates to the sale of a small freehold industrial unit in which 
the company stored paper before building the extension.
2.
Miscellaneous expenses included:
3.
A director uses the motor car 75% for business purposes and 25% for private purposes.
4.
Repairs and renewals comprises the following expenditure:
5.
Sta
ff
wages includes an amount of £182 for a sta
ff
Christmas lunch.
Calculate Chorley Ltd’s Adjusted trading profit for year ended 31 December 2022.