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Assessing and Collecting the Tax

In: A Tax Guide to Remuneration and Fringe Benefits

Author

Listed:
  • Bill Packer

    (Touche Ross & Co.)

  • Elaine Baker

    (Touche Ross & Co.)

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.

Suggested Citation

  • Bill Packer & Elaine Baker, 1982. "Assessing and Collecting the Tax," Palgrave Macmillan Books, in: A Tax Guide to Remuneration and Fringe Benefits, chapter 3, pages 17-30, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-06674-2_3
    DOI: 10.1007/978-1-349-06674-2_3
    as

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