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Can you help me to answer this UK 2020 taxation question and give me the process of getting the amount? Thank you! Hannah and Ollie

Can you help me to answer this UK 2020 taxation question and give me the process of getting the amount? Thank you!image text in transcribedimage text in transcribed

Hannah and Ollie Ormond are a married couple. Hannah is currently employed by a toy factory as a director, Dreamy Unicorn Ltd, and Ollie is retired. The couple loves animals, and they like to help animal charities when they can. They want to make a donation of 3,000 to The Donkey Sanctuary, but they are not sure about the most tax efficient way to do this. The financial information for each spouse is provided below: Hannah Ormond: 1. 2. 4. Hannah is employed as a managing director by Dreamy Unicorn Ltd, a toy factory. Her gross annual salary for 2019/20 is 80,400, from which PAYE of 51,008.00 was deducted during the year. Additionally, in January she received a bonus of 10,000. Hannah has the use of a company car for private purposes and used it throughout the entire tax year. The car is diesel powered and had a list price of 45,000. Its CO2 emissions is 127 grams per kilometre travelled. Dreamy Unicorn Ltd paid for all of the running costs of the car, and 1,600 for diesel for private mileage driven by Hannah. Hannah paid 100 per month towards the use of the car, and 40 towards her private fuel cost. Hannah was provided with a car parking space near the Dreamy Unicorn Ltd's main building - the space cost the company 300 per annum. Throughout the tax year 2019/20, the Dreamy Unicorn Ltd provided Hannah with living accommodation. The property had been bought by the Dreamy Unicorn Ltd 11 years ago for 54,000, and the market value of the property as of 06 April 2019 was 132,000. The annual value of the accommodation is 25,300. On 6 April 2019, Dreamy Unicorn Ltd purchased furniture for the property at a cost of 11,000. The company pays for the running costs relating to the property, and for the tax year 2019/20 these amounted to 5,600. On 6 July 2019, Dreamy Unicorn Ltd gave Hannah an interest free loan of 50,000 which she used towards buying a holiday home. Hannah repaid 5,000 of the loan on 31 December 2019. 5. 6. 7. During 2019/20 Hannah received bank interest of 850 and dividends from a UK company of 2,500. Ollie Ormond: 1. 2. Ollie is retired and receives a pension of 11,500. He also received dividends from his investments in UK companies totalling 8,000 in the 2019/20 tax year. Required (a) Calculate income tax liability in 2019/20 for Kate and for Ollie. (b) Assuming that all other figures calculated in part (a) are the same, advise which spouse should make a donation of 3,000 to The Donkey Sanctuary to make it tax efficient? Recalculate the income tax liability for the person you think should make the donation. Show how much savings on tax the person could make through this donation. Hannah and Ollie Ormond are a married couple. Hannah is currently employed by a toy factory as a director, Dreamy Unicorn Ltd, and Ollie is retired. The couple loves animals, and they like to help animal charities when they can. They want to make a donation of 3,000 to The Donkey Sanctuary, but they are not sure about the most tax efficient way to do this. The financial information for each spouse is provided below: Hannah Ormond: 1. 2. 4. Hannah is employed as a managing director by Dreamy Unicorn Ltd, a toy factory. Her gross annual salary for 2019/20 is 80,400, from which PAYE of 51,008.00 was deducted during the year. Additionally, in January she received a bonus of 10,000. Hannah has the use of a company car for private purposes and used it throughout the entire tax year. The car is diesel powered and had a list price of 45,000. Its CO2 emissions is 127 grams per kilometre travelled. Dreamy Unicorn Ltd paid for all of the running costs of the car, and 1,600 for diesel for private mileage driven by Hannah. Hannah paid 100 per month towards the use of the car, and 40 towards her private fuel cost. Hannah was provided with a car parking space near the Dreamy Unicorn Ltd's main building - the space cost the company 300 per annum. Throughout the tax year 2019/20, the Dreamy Unicorn Ltd provided Hannah with living accommodation. The property had been bought by the Dreamy Unicorn Ltd 11 years ago for 54,000, and the market value of the property as of 06 April 2019 was 132,000. The annual value of the accommodation is 25,300. On 6 April 2019, Dreamy Unicorn Ltd purchased furniture for the property at a cost of 11,000. The company pays for the running costs relating to the property, and for the tax year 2019/20 these amounted to 5,600. On 6 July 2019, Dreamy Unicorn Ltd gave Hannah an interest free loan of 50,000 which she used towards buying a holiday home. Hannah repaid 5,000 of the loan on 31 December 2019. 5. 6. 7. During 2019/20 Hannah received bank interest of 850 and dividends from a UK company of 2,500. Ollie Ormond: 1. 2. Ollie is retired and receives a pension of 11,500. He also received dividends from his investments in UK companies totalling 8,000 in the 2019/20 tax year. Required (a) Calculate income tax liability in 2019/20 for Kate and for Ollie. (b) Assuming that all other figures calculated in part (a) are the same, advise which spouse should make a donation of 3,000 to The Donkey Sanctuary to make it tax efficient? Recalculate the income tax liability for the person you think should make the donation. Show how much savings on tax the person could make through this donation

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