Assessing and Collecting the Tax

Bill Packer and Elaine Baker
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Bill Packer: Touche Ross & Co.
Elaine Baker: Touche Ross & Co.

Chapter 3 in A Tax Guide to Remuneration and Fringe Benefits, 1982, pp 17-30 from Palgrave Macmillan

Abstract: Abstract The preceding sections have considered what emoluments are chargeable to tax and under what schedule the tax will be charged. The next step is to look at the system for charging and collecting the tax from each individual. This is done by assessing the chargeable emoluments for the year and setting off the personal allowances due, leaving a net taxable figure. The appropriate rates of tax are applied to this figure and the end result is the amount of tax due for the year, on the earnings of the employee. This figure is, broadly speaking, the amount the individual must pay, or has already paid, in respect of that particular year.

Keywords: Fringe Benefit; Personal Circumstance; Basic Salary; Annual General Meeting; Salary Payment (search for similar items in EconPapers)
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-06674-2_3

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DOI: 10.1007/978-1-349-06674-2_3

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