The questions are:
a) The business will earn £100,000 in its first year. You can claim tax relief against purchase of computers and printers. Calculate the relief based on total equipment costs over three years: first year at 100%, second year at 50%, and third year at 25%
b) The remainder after tax relief is profit taxed at 21%. Calculate the tax liability.
The cost of computers where £3000, and the cost of the printers where £1000
I had to calculate the costs for setting up a business and the PMT, PPMT and IPMT for taking a loan from the bank. I attached a screenshot of the excel sheet with all the business costs and total costs.
Anyone know how to do this or know a place where i can find out? I'm using excel for the first time and i'm so confused
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Tax in excel watch
- Thread Starter
- 01-12-2014 20:01
- 02-12-2014 20:10
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