SyllabusA_CSV-0.45993511807468 Flashcards

1
Q

What is PAYE?

A

Pay As You Earn

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2
Q

Who pays Class 1A NIC?

A

Employers only

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3
Q

When is Class 1A NIC due?

A

19th July following the end of the tax year.

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4
Q

What is the due date for PAYE and Class 1 NIC?

A

19th of each month

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5
Q

What form includes details of employee benefits?

A

P11D.

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6
Q

When must the P11D form be submitted?

A

6 July following the end of each tax year.

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7
Q

When is the self-employed individual tax return due online?

A

31 January after the end of the tax year.

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8
Q

When is the paper return due for self-employed individuals?

A

31 October after the end of the tax year.

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9
Q

What is the due date for paying self-employed tax liabilities?

A

31 January after the end of the tax year.

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10
Q

When are payments on account due for self-employed individuals?

A

31 January in the tax year and 31 July after the tax year.

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11
Q

When is Class 2 NIC payable?

A

31 January after the end of the tax year

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12
Q

When must companies file their Corporation Tax return?

A

12 months after the end of the period.

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13
Q

When must small companies pay Corporation Tax?

A

9 months and one day after the end of each accounting period.

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14
Q

How do large companies pay Corporation Tax?

A

In 4 instalments: 14th of 7th

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15
Q

Who is responsible for paying Class 1 NIC?

A

Employees and employers.

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16
Q

What income is PAYE used for?

A

Employment income.

17
Q

What expenses are deductible for employment income?

A

Contributions to occupational pension schemes

18
Q

When must PAYE be paid by employers?

A

By the 19th of each month (22nd if electronic).

19
Q

What is included in the P11D form?

A

Details of employee benefits and expenses.

20
Q

Who must submit the P11D form?

A

Employers.

21
Q

When must the P11D form be submitted by employers?

A

By 6th July following the end of the tax year.

22
Q

When must employers pay Class 1A NIC on benefits?

A

By 19th July following the end of the tax year.

23
Q

Who pays Class 1 NIC?

A

Both employees and employers.

24
Q

When must employers pay PAYE and Class 1 NICs?

A

By the 19th of each month (22nd if electronic).

25
Q

When must Class 1A NIC be paid?

A

By 19th July following the end of the tax year.

26
Q

What is the payment deadline for self-employed tax liabilities?

A

31 January after the end of the tax year.

27
Q

When must self-employed individuals file their tax returns online?

A

By 31 January after the end of the tax year.

28
Q

When must self-employed individuals file their tax returns on paper?

A

By 31 October after the end of the tax year.

29
Q

When are payments on account due for self-employed individuals?

A

31 January in the tax year and 31 July after the tax year.

30
Q

What is the deadline for paying Class 2 NIC?

A

31 January after the end of the tax year.

31
Q

When must companies file their Corporation Tax return?

A

12 months after the end of the accounting period.

32
Q

When must small companies pay Corporation Tax?

A

9 months and one day after the end of the accounting period.

33
Q

When must large companies pay Corporation Tax?

A

In 4 instalments: 14th of 7th