Basis of assessment
You'll learn how employment income is assessed for tax purposes and when it becomes taxable — a crucial foundation for the Taxation paper.
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In this lesson
- 0:00 Employment income basis of assessment
- 0:21 Taxing employment income timing rules
- 0:48 Director versus employee taxation differences
- 1:22 Employee bonus worked example
- 2:31 Director bonus taxation worked example
About this lesson
This lesson covers the key rules that determine whether income is charged in the current or following tax year, with special attention to the different treatment for directors versus employees. Through worked examples involving bonuses, you'll see exactly how to identify the correct tax year for various types of employment income, a skill you'll need for both objective tests and case studies.
Duration: 4m
Transcript
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